The strongest factor that holds back wholesale buyers is the inability to know for certain what products will sell.
Many times retailers, flea market vendors, and eBay sellers are offered great wholesale and closeout deals, but they hesitate and miss the deal.
For the most part this happens because the wholesale buyer spends too much time pondering the profit potential of the wholesale merchandise. By the time the reseller makes a decision the merchandise has usually been sold.
What also takes place is the reseller will start thinking of every negative reason why not to buy the wholesale merchandise, until even the best wholesale deal appears to be unattractive.
This thought process is the reason why most retailers, flea market vendors, and eBay sellers stay small.
Does this mean that I am suggesting that resellers should simply jump into a wholesale deal?
No, I am actually from the school of thought that says that research and strategic thinking lead to success.
So what would I recommend to resellers who are not able to make a decision when it comes to new wholesale deals?
I do understand their reluctance in buying some wholesale deals, after all they do not know for certain what merchandise will sell in the respective markets.
Here is what I believe every retailer, flea market vendor, and eBay seller should do when considering the merits of a wholesale deal.
The reseller needs to look at the buying habits of his own family.
Would his family buy those products? Chances are that if his family would buy those wholesale products at some point, that there are plenty of other families that will also buy that wholesale merchandise.
Many times we forget that our customers are very similar to ourselves.
If there is an item that we would buy, chances are that there are thousands of other people who would also buy those same products.
So the next time you are offered a wholesale deal, ask yourself if you and your family buy those types of products. If the answer is yes, then you should be taking steps to buy that wholesale deal.
Donny Lowy is the CEO of http://www.closeoutexplosion.com, an online wholesale and closeout business.
Closeoutexplosion.com supplies brand name wholesale and closeout merchandise to dollar stores, flea market vendors, and eBay sellers.
