1. How To Start A Wildly Profitable Wholesale Business？

Q: How to start a wildly profitable wholesale business?

A: The things you do that get you a good reputation with customers and suppliers alike are what make your business a good wholesale business.

A good wholesale business should be able to meet the demands of its customers in good time, without any delays. A good wholesale business should be able to meet the customers’ needs in terms of price, quality, and quantity. No wholesaler is worth their salt if they cannot meet orders at great prices and provide quality products or services.

You can’t offer very low prices and deliver sub-standard products either.

What are the steps you can follow to grow your wholesale business? 

• 1. You should give additional incentives to your sales team.  Once they know that they can get something or reach a certain target, they will work hard to grow your business.
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• 2. Chase cold calls down and stay in touch with customers or potential clients.  Aggressively follow up on leads, because your competitors are there doing the same thing. Getting there first means more growth for your wholesale business.
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• 3. Improve your sales process by getting it online, streamlining your ordering and delivery systems, and providing several payment options for customers.

4. Place ads on your website ad on other company’s websites. You can also place ads in emails that other companies send out to their mailing lists.

5. Go to Trade Fair. Go to trade shows or trade fairs that are relevant to your industry and rent out booths to advertise your product.

6. Freebies. If you proactively give your customers a quality product and make them see its value, they will reward you for it. It can be in the form of a wholesale deal, or by spreading the word about your business.