To generate an income online or offline its not about how much you sell the product for. The most important factor is how much you pay for your product.
Also remember that you can make money online and hold down a full-time job. If you do well and can sustain a good income then you can leave the rat race but only when you are ready. This is a low risk strategy. Anyway today Id like to talk about sourcing products from wholesalers. In this case I am concentrating on the UK market. I will talk about sourcing from china another day.
The key rule is to source products for a low price and sell with a high mark up (but not be too greedy). The way to find the lowest price for a product is to track down wholesale providers in the UK where you can buy a product in bulk and at low cost. There are certain rules I recommend you to follow as there are a lot of people out there making a gain from people looking for wholesale sources.
The most important rule is : Dont pay money for Wholesale lists
You will find on auction sites such as Ebay you will find people selling wholesale lists for substantial amounts of money. These are basically a collection of links that the seller has put together. Anyone with a web browser and a bit of time can find the same sites for FREE!!!
My 2nd rule is : Do not pay a wholesaler to join his website
If a wholesaler is charging to join his website then I would not join up. The business you will provide the wholesaler should be adequate in that you should not have to pay any joining fees.
Now moving on to the top tip for UK wholesale sourcing.
Take a look at the following site and bookmark it. This site is completely FREE and lists a huge amount of UK based wholesalers.
Title: Wholesale suppliers & UK wholesalers trade directory
Description: UK Trade Directory of Wholesalers, Wholesale Products
Trade Leads, and UK Trade Shows and Exhibitions.
From this central location you can search for UK wholesalers for FREE and also find out their website details. You can also search by category.
Its important before you start selling a product however to research the market and make sure your product will sell. My advice is to aim for a niche market where there arent many other competitors. Stick to a small product range to start with and monitor sales. Find out which products are selling best and alter your stock accordingly.. It also makes sense to sell products that you have an active interest in. This gives you the energy and fun factor required to drive you forward to earn big profits.
[tags]UK Wholesalers, Product sourcing[/tags]