Sourcing Products Directly From The Manufacturers

Contrary to common belief, many manufacturers do in fact deal with both retail as well as wholesale dealers. Sourcing your products directly from the firm is a great way to locate good quality products at bargain rates.

How To Locate The Product Manufacturer

While a quick online search will help you locate the email addresses and contact details for most firms, it is always best to communicate in person, especially during the initial stages. Make sure you regularly attend industry trade shows, as they are a great way to learn more about your industry and establish valuable business relationships with manufacturers.

Many minor localized producers do not advertise, but rely on industry word-of-mouth. Trade shows are a great place to learn about these smaller firms and strike deals that may not be otherwise possible. Large trade shows such as regional and national trade shows are also the site of product introductions, promotions and closeouts; allowing you to get great deals. You will also be able to take advantage of show specials in the form of onetime only pricing cuts. Finally, attending a trade show helps establish your reputation as a serious seller.

Local business opportunity publications are also a good way to identify manufacturers and direct sellers, as they often advertise in the classified and display ads of these magazines. Trade publications related to the industry you are interested in are another valuable source of information on the subject.

Dealing With Foreign Firms

Thanks to the internet, it is now possible for even the most casual eBay seller to search globally for the next great product idea. In recent times, more and more retailers are importing products from Asia, especially China. While the potential payoff, in terms of both immediate profit and long-term success, is enormous, setting up an import business is not without risks. Fraudulent companies claiming to be manufacturing firms willing to trade at ridiculously low prices trap many unsuspecting new importers.

A good way to avoid such scams is to know the kind of products to source. Stationary products, fashion accessories, un-branded electronics, non-designer clothing, toys, fitness equipment, etc. can all be sourced at bargain rates though branded electronics, DVD box sets and designer clothing are to be avoided as these are mostly phony schemes aimed at the unwary and inexperienced buyer.

In conclusion, your relationship with your suppliers is a valuable resource that needs to be nurtured carefully. Establishing good relationships with manufacturers will earn you important benefits such as product discounts, early delivery of popular products, advertising funds and even preferable payment terms.