Wholesaling is a good business to be involved in, however like every other business that you may go on, it’s important that you conduct research and invest some time in planning before you embark on your business enterprise.

The first and most important question that you should ask yourself is why do you want to get started in the wholesaling business? Wholesaling is very different from retailing, and if you enjoy an intimate relationship with your customers, you may be surprised how different it can be dealing with other business. On the other hand, if you enjoy being a point of contact between manufacturers and retailers, and knowing that you are giving people a great deal, then wholesaling could be the right business for you.

Understanding your market is another important point. Like all businesses, wholesalers face heated competition from other wholesalers, so it is a good idea to know who your competitors are and what your unique selling points will be over theirs. A little research in this department definitely goes a long way.

The next most important thing that you need to have is relationships. If you don’t already have established relationships withmanufacturers or retailers – how are you going to build these? There’s no point thinking that you would like to go into a wholesaling business if you have no items to sell, or no one to sell to. This is perhaps one of the biggest aspects of starting any business and is certainly something that you shouldn’t consider lightly.

Most importantly, you should ask if this is the best potential business venture for you, and if you decide it is, be prepared to put in some hard yards on the road to success. No one said it was going to be easy, but if you follow the advice outlined above, you definitely will have a head start and an edge on your competition.