How to Buy Wholesale Electronics For Resale

If you want to know how to buy wholesale electronics you really need to know how to buy wholesale. This article helps you to choose the right product, wholesaler and avoid many of the pitfalls when starting your business.

Do your research

It is vitally important that you find the correct wholesaler as much as finding the correct product, so you must research both. Know your marketplace, find out what the best sellers are and get to know the product, try to get hold of a sample or learn what the specifications are so you can compare like for like products, rather than ending up with inferior products. Electronics goods have many different variations so it can be difficult to compare different models and manufacturers.

Choose the right supplier

When you find a potential supplier try and find as much about them as possible, read reviews, carefully scrutinise their website, ring them up etc. Make sure they are legitimate and if you are unsure either don't risk it or place a very small order. Make sure the prices include extra costs like VAT, shipping, credit card surcharges as these eat into profits.

Many wholesalers do not need to advertise or even have a website so you will have an advantage over other web retailers if you can find them off-line as you will not be selling the same products as everybody else.

How to get the right price

In trading there is a saying 'the profit is made on the purchase not the sale', if you buy the product at a great price you will make more profit because you will not have to work so hard to get better margins on the sale.

In the wholesale electronics business there is no single correct price, there are many factors that affect it. You will get a better price if you buy more units, if you are good customer with the wholesaler, if you are better at negotiating, if you pay up front. You may find it difficult to compete on price with the big electronics sellers as they shift massive amounts of stock. You will need to be buying the same amounts to get the same prices, to start with you need to concentrate on specific niche market to build up your reputation and customers.

Buying from abroad

There are many things to consider before sourcing your wholesale electronics from abroad. It may seem attractive because the pricing appears to be excellent even at small quantities but you need to do your homework. There are customs taxes, shipping charges, money transfer costs and of course issues if the goods are not up to scratch. It can be a real headache, you should consider sourcing your goods in your home country before considering importing.

Buying end of line stock

You can often get great deals on end-of-line stock, you need to be aware that this is usually items that are old technology or last years products that the shops could not shift. These are not true wholesale products but you can still get great returns if you are not too bothered about selling the latest products, passing the savings on to your customers.

Consider where you will be keeping the stock or whether you want a dropship supplier that takes care of the order fulfilment for you.

Find out what terms you have for payment, warranty/returns and if it sounds too good to be true it probably is!

If you are looking for wholesale electronics, why not try 123 Electronics the source for 1000s of deals and great advice.