Aug 30, 2021
On today’s episode, I break down the five main excuses people give for not jumping on board with wholesale, beginning with the idea that it’s too expensive. I explain why wholesale is actually extremely affordable, and offer plenty of great strategies to help keep costs down when placing your orders. Next, I bust the myth that people can’t find wholesale vendors, suppliers and distributors by sharing a handy tool that lets you find thousands of legitimate wholesalers within an hour. I also explain why most vendors are highly motivated to sell to Amazon sellers, and how to get around wholesalers who may not deliver to a residence (although most of them will if you ask). Finally, my favorite excuse is that you can’t find profitable products to sell with wholesale suppliers. I go into the many reasons why this isn’t true, and detail how you can take advantage of bundling, niche products, and working with small vendors to maximize your wholesale success.
Remember to join our Facebook group with the code word Yes You Can to learn more about getting started with wholesale, ask questions, and participate in the conversation with other sellers. And if you’re ready to take your business to a whole new level, visit MommyIncome.com/Coach to schedule your one-on-one coaching call today.
This week on the Amazon Files:
- Busting myths and excuses that people can’t afford wholesale or find vendors
- Five main excuses why people don’t want to jump on board with wholesale:
-
- It’s too expensive
- Can't find wholesale vendors, suppliers and distributors
- Vendors won't sell to Amazon sellers or third party sellers
- Residential delivery - wholesalers will not deliver to a residential address
- Can't find profitable products to sell with wholesale suppliers
- Wholesale is extremely affordable
- Most wholesalers do not require minimum orders - the only thing they require is that it’s business to business
- Volume discounts can also help keep costs low when ordering wholesale
- Stop assuming and start asking - there are always discounts to be had
- Wholesalers often offer discounts and deals if you sign up for their newsletters
- Trade shows are an excellent way to locate wholesale vendors, suppliers, distributors, dealers
- Visit MommyIncome.com/100 to find a step-by-step guide on how to find legitimate wholesalers
- Local distributors are also faster, easier, and fun to work with
- Industry newsletters can also help you locate wholesalers
- You can also look at the back of the box to find the manufacturer of a product
- The key is doing your research and finding profitable products - from there, selling is easy
- Some vendors may not want to sell to Amazon sellers, but most of them do - they do not want to turn business away and leave money on the table
- Many wholesalers will deliver to a residence, but if they don’t, you can always use prep centers for a fee or get a PO Box or a UPS Store mailbox, then rent a truck to pick up your orders
- Wholesale is less expensive than retail, but it’s a myth that it’s 50% cheaper - it’s usually 40%
- Sometimes you can find products on sale in a store that are less expensive than wholesale - that’s something to keep an eye on
- Wholesale price sheets do not take into account additional Amazon fees that you have to pay
- Big box stores can order huge quantities and receive competitive pricing as a result
- Don’t try to compete with huge retailers and instead focus on selling products that you can’t get at those retailers
- Do research on niche products that no one else is selling
- Don’t sell anything with an end date or anything that’s too trendy
- You can also bundle products to help with thin margins
- Don’t get discouraged that you can’t compete with big retailers - there are millions of Amazon customers and millions of products to sell
- Consider working with smaller vendors because they’re more motivated to make sales
“When you bundle things together, you're creating an opportunity not only for your customer, for speed and time and convenience, but you're also creating bigger margins for yourself because you're paying one Amazon fee, you're using one package to ship - things like that.”
- Kristin Ostrander
Quotes:
“Wholesale is the most legitimate thing. Every retailer in the universe does wholesale… We're going to talk about how you can get rid of your fear, have some confidence to be able to move forward and do some wholesale.”
“You have no idea how much I hate the phrase, I can't afford it.”
“If you can't find suppliers, it's because you're not looking or you're not looking in the right places.”
“There's no minimum price order, there's no minimum quantity order. You can come in and buy one thing or 10 things - the only thing that they require is that it's business to business. You're not just a customer off the street wanting to buy one thing.”
“The reality is, stop assuming and start asking.”
“Guess what? Being in business is pretty much all research. After you do all the research, selling stuff is the easy part.”
“Vendors are aware that e-commerce is bigger than ever, and that brick and mortar stores are becoming less and less of their customers.”
“Don't get so worried about people saying no to you. Keep looking, keep going.”
“I've worked with many, many vendors who literally will deliver to my back woods janky driveway.”
“If it's a once-in-a-while kind of thing where you're getting a pallet delivered to your house, then there's ways around it.”
“Sometimes you can get a better discount buying something on sale at a store than you can from wholesale.”
“Don't get your price sheet and expect it to be the best prices that you've ever seen.”
“My advice is to not compete with that, and go look at products that aren't competing directly with these big box retailers.”
“Dig a little bit deeper. Do some research on specific niches that want specific products.”
“You'd be surprised at how little competition there is when you move down the road a little bit from all these big, best-selling, brand new, trendy-type products.”
“What happens is you take Product A, Product B, and Product C that all work well together. Create a bundle pack. And now you've also created a margin for yourself.”
“Watch the trade show video. You will be surprised at how many vendors you have at your fingertips.”
“Don't get discouraged, because you don't have to sell everything to everyone. There are millions of Amazon customers. There are millions and millions of products to sell.”
“You do not have to sell top-selling products on Amazon and the top 10 categories to make a living on Amazon.”
“The truth is that you don't have to sell big branded, name brand items to sell items.”
“You can find profitable products, you should learn to bundle because that is the best way to profit from wholesale in a way that not everyone is doing.”
Related Content:
- Trade Show Stocking Video
- Confident Wholesale Bundlers Workshop - Coupon code: workshop50
- Wholesale Bundle System
- Email questions
- Learn With Us
- Coaching
Grow Your Amazon Business!
Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword Yes You Can to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.