Maximizing profits is a winning strategy any time – and especially when expenses are up or traffic is down. One way to increase profits is by adding new streams of income. Even if you think there is nothing you could sell related to your business, there definitely is. You just have to be creative.
There are products you can buy inexpensively to become small business wholesale suppliers that have continual demand. Profit margins are exceptional for popular commonly used items. Here are some examples:
CTSWholesaleSunglasses is a manufacturer that sells to small business wholesale suppliers, but has no minimum order. That means you can buy a dozen sunglasses for $8 plus shipping. If you sell them for $10 a pair, you only have to sell one pair to recover your costs. Sell them all and you make more than ten times your money.
Who can sell sunglasses? Where are you when you need them? I can’t count the number of pairs of inexpensive sunglasses I bought when I drove 50,000 miles a year for IBM. I bought them in gas stations, convenience stores, grocery stores – even restaurants.
If the sun is shining, there is a demand for sunglasses so unless you buy crazy ones you won’t get stuck with them!
What if the sun doesn’t shine much where you are? Does it rain a lot? Sell umbrellas. They are another practical product that generates impulse purchases. How many times have you been out to eat or taking in a movie or show without an umbrella with you when a big storm hit?
CKB Products is another wholesale outlet that has no minimum order for small business wholesale suppliers. They have a huge selection of umbrellas starting as low as $2.41 each. How much would you pay for a decent umbrella during a rainstorm? This is another product that you could order small quantities and have very low risk. You will eventually sell or use them. Just buy small at first.
Restaurants, movie theaters, any place someone goes for entertainment, convenience stores, gas stations, grocery stores, fitness businesses, doctor’s and dentist’s offices – anyone – could sell umbrellas.
OTHER WHOLESALE PRODUCTS
What else could you sell? Anything practical that people use regularly. Items people will buy on impulse. Inexpensive but useful and attractive gifts. If the items wear out, run out, or need be replaced regularly – even better. Here are just a few examples that can be sold by small business wholesale suppliers:
- Baseball Caps
- Cups and Mugs
The best place to find wholesale distributors and check them out is Wholesale Central. As ThePowerSellerDirectory.com said in their Wholesale Central Review – How it stacks up for product sourcing:
“This website prides itself in listing only reputable, true wholesale suppliers with the latest wholesale merchandise.”
This is very important because there are many companies masquerading as wholesale suppliers who aren’t. A cardinal rule about selling is that you have to buy at the right price to make sure you can sell at a profit.
WHY BUY WHOLESALE?
The primary reason is because the profit margins are so much larger. While the drop shipping business model is less risky because you don’t have to buy the inventory and risk getting stuck with it, you will make much less per sale.
DISADVANTAGES TO CARRYING INVENTORY
The drawbacks to a small business wholesale suppliers for resale are:
- You may end up with unsold inventory
- Inventory taxes
- Having to have the money to buy inventory and tying it up until you sell
- Storing the inventory
- If you sell online, time and cost of shipping
These disadvantages are why most people don’t consider buying wholesale to sell retail. But if you only buy small quantities for immediate display of highly popular, practical items, any business can turn a tidy profit with very low risk.
That extra money can make all the difference for many small businesses. I hope you will take this idea seriously – and share it with your favorite entrepreneurs. For more ideas, read How to Increase Small Business Profits: Related Products You Never Thought to Sell.
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