The opening of online wholesaler and distributor store is much different then opening a retail venue. Though both are acting as entity to sell the products, but presence is different. It is hard to catch the visitors and attraction when thousands of online stores are actually making huge success. It is also easy for those brands who are already enjoying the popularity from their retail stores. If you start with complete plan, then you will be able to receive the earnings ceiling and huge success. The initial step is to just select some of products and test the market after launching the online storefront.
Every business need the name. First, you select a good name which shows the product line of your store. The name gives the idea to the visitors about the specific type of items in the store. This will also help the audience to identify that the store is selling one item or having more types of products.
For contacting the wholesalers and distributors, you need to have the tax identification number. After choosing the right name of the online store, now it is time to register your business with your state. After registration, you will get a tax identification number that help you to utilize service providers. Now it is time to have the business bank account. This helps you to follow up your finance and allow you to receive payments from online customers that you are soon going to produce. Mostly the online customer pays the bill with PayPal and Credit Cards, so you ensure the process of receiving payment through setting up the business account.
Now find a market according to the products you want to have in your online store. I highly recommend you to stay in the market with which you are familiar, it is so easy to tackle those online wholesale store. If you like festivals or gadgets, consider finding a product for this market. A specific niche can give a larger profit margin than a broaden market. After selecting a specific niche, now select a wide range of products that meet the niche requirements. The product price should be between $50 to $200 dollars because the medium pricing attracts the lot number of customers online. Try to compare your store with other online wholesale companies that are selling the same selected product like yours. You can find there, the list of manufacture and can contact them directly through their contact details.
After listing down the company you want to contact, directly ask them for the wholesale pricing of your chosen products. Almost the all wholesalers guide you and reply back the inquiry you put in their contact forms if available. The very recent change is that the online store owner has to fill the required form in order to receive wholesale pricing information. Learn the details of your agreement with certain wholesaler and pay complete attention to the detail of the contract. For payment set up an account with your wholesale provider. Some wholesalers extend credit according to the milestone and some want payment at time of purchase.
Drop Shipping is considered to be the best option because it helps you to get rid of the product storage heavy task. It also creates the positive cash flow cycle. It means that you only pay for the product after you have received payment from your customer.
Hosted your online store website on Amazon, eBay, Yahoo, etc. You can also host your website by your own, but for this you need to register your domain and also need to find the host for the website. As the hosting process complete, create an attractive design for your online store. Build an informational web pages that are user friendly and attractive. Put some informational article and blogs for interested customers.
Use SEO and SMO techniques for creating the presence of your online store. These techniques are asset to create the huge traffic and sale on the website. Build an informational links on the news section of your website. Put picture and product description for each item, it will give the audience complete detail and authenticity of the item.
As you are now having the eCommerce site, put shopping cart option like a credit card processor. Bank and PayPal are the two viable options of shopping online. Setup drop shipping procedure or inventory for delivery the products to the customers.