Selling through a wholesaler could be the key to e-commerce side hustle success
After a turbulent few months for businesses everywhere, which has seen countless furloughed staff, redundancies and job losses, it is no surprise that many have resorted to pursuing a secondary job.
A recent study revealed a 72 percent increase in side-hustles since the start of the pandemic in March 2020.
From designing tie-dye joggers to crafting resin placemats and trying your hand at creating sellable prints or graphics, there are plenty of opportunities to gain extra income online for the creative.
The selection of marketplaces where you can sell such items is pretty broad too, with the likes of eBay, Etsy, Amazon and Facebook all providing platforms to set up your own online shop.
But did you know you could boost your appeal even more by selling through a wholesaler?
For over a decade businessman Karl Baxter has been running a multi-million pound company that allows individuals to do just that.
Here, Karl Baxter, Managing Director of Wholesale Clearance UK reveals why skipping the retail stage of the supply chain could take your side hustle to the next level…
It may be your goal to get your product stocked in a physical store, but this can often be costly due to retailers expecting a higher markup of your profit, with some even charging for the luxury of stocking in their store.
Meanwhile, online marketplaces such as eBay may seem viable, but there are hidden costs, like the 10 percent final transaction value and other upgrade fees for features.
Alternatively, selling through a wholesaler as a sole trader can be beneficial when it comes to cutting costs as they can reduce the handling time and expenditure involved due to selling items in bulk at lower prices.
While many usually sell in large quantities, some wholesalers are willing to sell in smaller quantities to the general public - skipping out retailers altogether!
Sell larger quantities
While it may serve you well to start small, once your product has piqued the interest of your target market, it may become difficult to package and deliver your goods efficiently while dealing with demand.
Not only can your side hustle benefit from distribution via a wholesaler who has expertise in dealing with large orders, but this could be your chance to take your business to the next level.
By selling wholesale, your business could reap benefits such as increased average order value and volume, control oversupply, fixed profit margins and increased brand visibility.
Broaden your network
To run successfully, wholesalers must make and maintain long-standing relationships with manufacturers, business owners and retailers – making them the perfect candidates to grow brand awareness.
By utilising their contacts, you could have more opportunities to get your product sold in various outlets, attracting more customers than might have been possible previously.
Plus, if you thought global expansion sounded more like a distant dream rather than a possibility, then selling through a wholesaler could turn it into a reality. With the right contacts, you could see your side hustle go international for a fraction of the price due to goods shipped in one large container rather than multiple retail packages.
This was posted in Bdaily's Members' News section by Becky .
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