Hi,
I started my first e-commerce store about 6 months ago. My initial aim was to just direct-sales to customers, however as time went by I have started receiving more and more request for wholesale from other businesses, which is great. I put together a catalog and for each product I have included pics, info, retails vs wholesale price. So far I have been quite passive about working with businesses/offline shops but going forward I want to be more active about it and start contacting them directly.
I have a few questions though:
1) Wholesale price: how do I know I am setting up the "right" wholesale price? I usually have a big margin on my products, so i for example a pcs of xyz cost me 20$, the retail price would be 100$ and I set a wholesale price of 60$, but I wonder if that is too high/low?
2) Approaching other businesses: how would you prefer approaching other business to check their interest? Via email, facebook, twitter, instagram? There are literally ten of thousands offline stores I could contact around the world, but before I start I want to create a proper action plan.
3) Would you set a minimum spending (ie. 300$) or just let them purchase from you as needed, without MOQ? I am ok not to have a MOQ as I usually don't have huge stocks, but any suggestion is welcome.
Thank you for your help!
I started my first e-commerce store about 6 months ago. My initial aim was to just direct-sales to customers, however as time went by I have started receiving more and more request for wholesale from other businesses, which is great. I put together a catalog and for each product I have included pics, info, retails vs wholesale price. So far I have been quite passive about working with businesses/offline shops but going forward I want to be more active about it and start contacting them directly.
I have a few questions though:
1) Wholesale price: how do I know I am setting up the "right" wholesale price? I usually have a big margin on my products, so i for example a pcs of xyz cost me 20$, the retail price would be 100$ and I set a wholesale price of 60$, but I wonder if that is too high/low?
2) Approaching other businesses: how would you prefer approaching other business to check their interest? Via email, facebook, twitter, instagram? There are literally ten of thousands offline stores I could contact around the world, but before I start I want to create a proper action plan.
3) Would you set a minimum spending (ie. 300$) or just let them purchase from you as needed, without MOQ? I am ok not to have a MOQ as I usually don't have huge stocks, but any suggestion is welcome.
Thank you for your help!
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
