Why You Should Always Have A Backup Supplier For Your Top Selling Lines

As you get more into selling more online in places like eBay and Amazon you will find that you are buying more and more product, but quite often when you look back on your records you will find that around 90% of your general stock will come from the sources. But before we go any further I just want to outline the main places where you can source and buy stock.

1) The first place most people go to is a wholesaler or cash and carry. Here you can buy stock in smaller amounts and still make a profit. The profits will not always be as high as the method, but this way is safe and you are not paying out a lot of money.

2) Another area where you can go and buy stock is from liquidators. Liquidators are people who buy up bankrupt stock and offer it at a cheaper rate.

3) The third main area is from importers. This area will often mean investing large amounts of money to pay for stock, but you will get it at a cheaper rate.

4) The fourth and last area is direct from the manufacturer. Again this could mean a large investment in stock and storage.

Now all the above work very well and each level will suit each ones needs. Some people may just stick with one level while others will start off small and then move up till they are buying direct from the importers or from the manufacture. But I want to through something else into the pot.

You have found a good selling line and are buying weekly from your supplier, then one day your supplier lets you down. This can be for many reasons – their supplier let them down, a fire, they just let you down or the supplier has stop trading. Whichever one it is, is sad for the supplier but more important you have been let down big time. You have orders you cannot fill and an empty shop.

So a good way round this can be to use a few suppliers for the same item, or know where the suppliers are so that if you are let down, you can make a few phone calls and within hours or days you will be back in business. Also by using several suppliers to source your product if you get a sudden rush of orders and your normal supplier does not have enough stock, you can again use supplier number two.

Remember you are in business, and keeping tabs on suppliers and knowing where to get stock at very short notice is up to you. And it is always good to have a backup supplier for you will get their mailings and catalogues, and one day you might see a new item that your main supplier does not carry.

Andrew Milburn has been selling on eBay and Amazon for many years
and is now helping many others from around the world learn the
freedom of selling on Amazon and eBay can bring. Andrew is currently
working with Jim Cockrum as an Amazon Consultant  and eBay Consultant and offers coaching through their coaching programs.
For further information please fill out the box to the right.

 

How To Approach Suppliers

With this post I hope to take you by the hand and give you some tips on How To Approach Suppliers.

When you approach suppliers either with an enquiry or when you are ready to buy you need to approach suppliers in the correct way or sadly they will show you the door or not answer letters or emails.

1)  Get Your self a Business Name or Trade Name. Unless you want to, at this stage you can trade as a sole trader. You will need to come up with a business name. Please give this some thought, you can use a generic name that will cover anything you want to sell or do, or you can be more direct and call your self something like sally’s brown bears. Now the only problem is with the latter you can only really sell brown bears.
Something like Sally’s Bears and toys would allow you to sell bears and toys.

Also while you are thinking up a name check that the domain is there for you and if it is go buy it. http://www.godaddy.com offer very cheap .com names.

2) Right once you have come up with a name and bought a domain name, get your self a business bank account or another account as you need to keep your business money seperate.

3) The next stage on your journey is to get some business cards made. You can get these made at VistaPrint often for Free.

4) Now fire up your word processor or publisher package on the computer and design a simple letterhead and include your Business Name, Address, web and email address.

5) You are now all set.

When you write to suppliers say you are new and setting up an online business and please could they send you their latest Catalogue, Trade Prices.

Also mention that you are happy with a Cash with Order account to start with.

Please type the letters and never hand write them as it looks far more business like.

I hope that you were able to follow those steps. And when you do very soon the postman will be delivering you Trade Catalogues and Price lists day in and out.

Happy eBaying and good luck with approaching Suppliers

Andrew Milburn

News Flash – 1

News Flash – 1

As many of us who sell on eBay and this question is asked even more to those of use who are eBay Education Specailists. Where do I find that cool Hot product to sell on eBay.

So starting each Friday I will be listing one supplier here in the UK, with complete contact details where I have them. And I will continue to list one a week till I run out of suppliers. So come back each Friday and by 9pm you will see a New Supplier listed.

Now to all my friends over seas, I am sorry at the moment I am unbale to list suppliers as I do not have the resourses to do this. But hey there is a way out of this problem, If you could leave comments after each of my posts with a supplier from your country.

So if I list Baby Clothes one week, if people could leave a supplier from their own country in the comments section then that would build up a massive resource for ebayers all over the world.

Happy Ebaying

Andrew (AndyUk)