Many people are afraid to sell goods in bulk, as they believe that this requires large material investments and well-established large supplies. We decided to dispel a few myths about wholesale sales and share tips for starting a business

1. Any transaction of 3 units or more can be considered wholesale. The scheme of work is clear even to novice entrepreneurs. In fact, there are several scenarios:

Option 1: you produce, buy or sell a product, then resell it at a higher price.

Option 2: you act as an intermediary – you find a buyer and bring him together with the supplier. After that, you get a commission from that. The main thing is not to forget to conclude an agency agreement and spell out all the conditions in it. The advantages of the second model are that you don't even need to invest some kind of budget, rent an office, warehouse and register a legal entity to work.

2. You should start by studying the market: is there a demand for the product you plan to sell? Is there a recession? Are there many competitors in this industry?

3. Follow the example of large wholesalers. Don't be stingy with paying for the information you receive. After that, knowledge and skills will save you more money than you initially invest.

4. Wholesale sales are more profitable. The main advantage is that the amount of time you spend to sell 1 item or 10 is about the same. But the profit at the output is different.

5. If you have no experience in wholesale before, you should start with small volumes, gradually increasing them as soon as there is profit and psychological confidence in your abilities.

6. Another advantage of wholesale is that you can fully concentrate on a specific niche or product. This way you will understand all the intricacies of the industry. The more you show expertise, the higher the trust of wholesalers in you.