Are you looking for a way to make more money from your Shopify store? If so, then you may want to buy wholesale products to resell on Shopify. This is a great way to make a profit, and it’s easier than you think.
- How buying from wholesale suppliers will help you earn more?
- What are the risks of buying products from a wholesale supplier?
- 6 easy steps to buy wholesale products to resell
In this blog post, we will teach you how to find and purchase products from wholesalers. In addition, you’ll get a step-by-step guide on how to set up your Shopify shop and start reselling.
By the end of this post, you will be ready to start making money from your Shopify store. So, let’s get started!
Also read: B2B Wholesale – The Ultimate Guide
How buying from wholesale suppliers will help you earn more?
There are a few reasons why buying wholesale products to resell on Shopify can be beneficial:
I. You will be able to buy products at a lower price than what you would pay if you bought them retail. This means that you will have a higher profit margin when you resell them in your store.
For example, let’s say you want to acquire a specific product that you want to resell on your Shopify store. The retail price of that product is $100. However, you were able to find the same product from a wholesaler for $50. This means that you can resell that product in your store for $75 and still make a profit. (But sometimes, a wholesaler will ask you not to sell below a specific price or a minimum retail price – this is to avoid undercutting other resellers who buy products from the same wholesaler)
II. You will be able to buy products in bulk. This means that you can save your product shipping costs.
III. You will be able to find unique products that your customers will love. This can help you stand out from the competition.
What are the risks of buying products from a wholesale supplier?
There are a few risks to consider when buying products from a wholesale supplier.
First, you need to make sure that you are buying from a reputable source. There are many scams out there, and you don’t want to get taken advantage of.
Second, you need to be aware of the quality of the products that you are buying. Sometimes, products from wholesalers may not be up to the same standards as products from retailers.
Finally, you need to make sure that you have enough inventory of the product. If you don’t, then you could end up losing money if customers order the product and you don’t have it in stock.
Now that we’ve gone over some of the benefits and risks, let’s talk about how to find and purchase products from wholesalers and resell them on your Shopify store.
6 easy steps to buy wholesale products to resell
Step 1: Finding wholesale suppliers and products
The first step is to find wholesale products that you want to sell in your store.
Here are a few ways to do this:
- You can search for “wholesale suppliers” on Google. This will bring up a list of different wholesalers that you can contact.
- You can also find wholesalers by searching online directories. These are websites that list different businesses, including wholesalers.
- Attend trade shows to find manufacturers or wholesalers. Trade shows are events where businesses come together to show off their products. This is a great way to see what products are available and to talk to the businesses in person.
- Look for products listed on wholesale marketplaces such as Alibaba (China), Tundra (US), Go Wholesale (UK), Global Sources (China), Faire (US & Canada) and more. These are websites where thousands of businesses list their products and sell them in bulk quantities or in volumes with lowest prices.
Step 2: Contacting wholesale suppliers or manufacturers
Once you’ve found some potential wholesalers, it’s time to start contacting them. When you contact a wholesaler or manufacturer, be sure to ask about the minimum order quantity (MOQ). The MOQ is the volume of products that you’ll have to buy from a specific wholesale supplier to be able to get a discount for your order.
You should also ask your wholesale supplier about the net/payment terms, wholesale shipping costs, and return policy. This will help you understand what you are getting into before you make a purchase.
Step 3: Purchasing wholesale products from suppliers
Once you’ve found a wholesaler that you want to work with, it’s time to purchase the products that you want to resell on your Shopify store.
Here are a few tips for purchasing products from wholesalers:
- Get quotes from multiple suppliers to ensure that you’re getting the best price.
- Read all the terms and conditions of the purchase order or agreement such as MOQ, net payment terms, etc.
- Ask for samples of the products before you place a large order. This will provide you with the actual quality of the product and further help you decide where to buy it or not.
Step 5: Adding procured wholesale products on Shopify
Now that you’ve purchased products from a wholesaler or wholesale supplier, it’s time to set up your shop and start selling. If you don’t already have a Shopify store, then you will need to create one.
Once your store is created, you will need to add your products. To do this, simply go to the “Products” page and click “Add product“.
From here, you can upload product photos and write descriptions. Be sure to upload high-quality photos and write good product descriptions that will appeal to your customers.
Also, price your products competitively. You want to make sure that you are making a profit, but you also don’t want to price yourself out of the market.
Step 6: Start reselling your products
Once you’ve added your products to your Shopify store, it’s time to start selling.
There are a few ways that you can do this:
- You can promote your products on social media. Social media helps you reach and connect with your potential customers (these are the people who may be interested in buying a product from your store).
- You can run ads. You can use Shopify’s built-in ad platform, Facebook/Instagram Ads or Google AdWords to reach potential customers who are searching for products like yours.
- You can also reach out to bloggers and influencers in your niche. This will help you reach a more lookalike audience or people who might consider buying your products.
Read our detailed Shopify marketing guide that will help you promote your Shopify store and generate more sales.
Whichever method you choose, make sure that you are driving traffic to your store so that customers can purchase your products.
If you follow these steps and implement them then you’ll be able to resell purchased wholesale products on your Shopify store. Just remember to find reputable suppliers, understand the terms of the agreement, purchase products at a competitive price, and promote your store to generate sales.
To buy wholesale products to resell on your Shopify is a great way to earn more money from your store. There are some risks to consider, but as long as you do your research, you can find reputable suppliers who sell high-quality products at a good price point.
Do you have any tips for reselling wholesale products on Shopify? Share them in the comments below. Happy reselling!