Tag: orders

Starting a Wholesale Business

Posted by Winflow – June 9, 2011

Running a wholesale business can make you a substantial amount of profit compared to running a retail store. This is because you are not making sales a dollar at a time, instead you are supplying inventory to retailers who typically need orders that costs thousands. If you’re considering opening a wholesale business, keep the following in mind:

  • You don’t need a lot of capital to start a wholesale business.
  • You can stock inventory or drop ship it directly to the customers. Drop shipping is when you send the inventory from the vendor to the customer. You avoid paying overhead fees for storing merchandise.
  • Understanding consumer trends is an important aspect of running a wholesale business.

Once you have decided to open a wholesale business, there are a few things you need to get in order. Be sure to set up the following before opening your business:

  • Find manufacturers. Vendors can largely be found online.
  • Find retailers through ads and direct contact. Participate in social media and consider contacting E-Bay or other online stores.
  • Figure out payment terms. Take a look at the competition’s payment terms and see if you can provide stock for less.

If you need help launching your wholesale business contact the Winflow Financial Group today. We can assist you in financing, investment

Choosing the Right Business Idea

Posted by Winflow – June 8, 2011

If you’re an eager but novice entrepreneur, chances are you have some really great ideas. Choosing just one or choosing one that will be likely to turn a profit can be the difficult part. Some ideas may seem sensible but you may never see any money from the business whereas others seem off-the-wall but you could end up making some serious cash. Here are some questions to ask yourself if you’re considering putting a business idea into motion:

  • Don’t be dependent. If your business idea requires relying on orders from one company you will face difficulties when they do. Go for business ideas where you will receive orders from multiple sources so if one company goes out of business you will still make a profit.
  • If it sounds too good to be true it probably is. Ads for making thousands a week working from home with no experience probably require you to pay the company for materials. They also won’t tell you the operating costs so you won’t really know what you’re getting into. Be smart and avoid business scams.
  • Choose an idea that requires low overhead. Unless you have some serious start-up cash avoid ideas that require purchasing and running costly equipment or buying distribution rights.
  • Choose a business that won’t be difficult to manage. If your business expands will you be able to fill orders and handle the increased demand?
  • A business that is simple to start will save you grief in the long run. If you have to take expensive training courses or spend all your time building trade connections you won’t turn a profit very quickly.

Contact the Winflow Financial Group if you need help evaluating your business ideas. Request a free consultation or call us at 1.800.956.6897.