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If you are an individual starting out in eBay, bootsale or market trading then finding a supplier and investing in wholesale lots can be a daunting step to take. Purchasing wholesale lots means taking a leap of faith and committing to your business venture, so it’s worth considering the following before you take the plunge: Is Your Business Plan Solid? Hopefully, you will have spent time planning and mapping out your business – even as a sole trader. No matter how small you wish to start, for example, selling to friends and family, it’s still important to have a business plan in place. You can find business plan templates at Business Link online, and they’re very useful for getting clarification on the aims of your business and how you will achieve them. The bottom line of any business is to make as much profit as possible which, for a retailer, means purchasing stock at as low a cost as possible, and selling it on at a price which balances profit with customer appeal. Have You Found the Right Supplier? A crucial factor is making sure that your sole trader business is a success is finding the right supplier. Many wholesale suppliers charge a set up fee and have minimum order values, which can be unaffordable for the average sole trader. Wholesale Clearance is one supplier which doesn’t charge set up fees or enforce minimum order amounts. In fact, Wholesale Clearance was set up as a direct response to the need for wholesale suppliers to individuals and sole traders. And there’s no compromise when it comes to using Wholesale Clearance. Sole traders can benefit from wholesale lots of all sizes – from small job lots to large pallets - at the best possible prices for quality goods. Are You Choosing the Right Items? It’s important to consider your market when purchasing job lots, as a wrong purchase could be a costly mistake. If you deal in fashionwear, research which brands are currently popular, and also look into the styles of the season. Think about the age and preference of your target customer and try to keep a uniform feel across the range that you offer. Price is, of course, a vital consideration, and you should consider the market for the goods that you plan to sell. You need to balance profit with customer appeal, which can be a fine line to walk. Of course, as you begin trading you will quickly get a feel for what sells well and what doesn’t, but if you can get your product selection right from the off it will save you from making costly mistakes. Purchasing wholesale lots as a sole trader is a great way of increasing profitability and having the best chance of making your retail venture a success. It means that you can benefit from quality, branded goods at the lowest possible prices, attracting and retaining custom and building a successful retail business. Dulce Islas is a leading fashion writer and blogs about Wholesale Clearance products and related information.
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