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- Buy Wholesale from China- A Guide
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How to Buy Wholesale
There are opportunities to buy almost anything at wholesale prices, whether you want to buy everyday items or specific products for resale. Once you begin your search, you will see that opportunities to find wholesale buys exist almost everywhere. The process to get started is easy and your contact list of wholesalers will grow quickly.
- Obtain a federal employee ID number from the IRS. The application form is available online at the irs.gov website. You are eligible to get this permit as a sole proprietor of a business.
- Get a federal and state tax ID number applicable to your residence. Request the federal ID first, because you may need it in order to secure the state tax ID. Afterwards, search the Internet for your state's Department of Revenue, where they will be able to direct you to the right department.
- Apply for a vendor's license from your state after securing the ID numbers you need.
- Balance your supply and fiscal needs with inventory constraints. In other words, it's great that you got a deal on 2,000 laptop computers, but where are you safely going to store them while your orders trickle in?
- Do a thorough internet search. Search first by the type of product you're looking for, followed by your zip code to localize the search. Comb through the more local data, paying attention to classifieds, online associations, and wholesale directories.
- Look for wholesale trade shows. A little more expensive and perhaps less efficient than a simple internet search, trade shows are nonetheless repositories for great deals (and the much-touted, oft-maligned networking).
- Ask brand manufacturers. If brand manufacturers can't sell to you directly (they usually only sell at very high volume), you may be able to ask them for referrals to other wholesalers or distributors.
- You may think that paying for access is a rough transaction, but the membership fee is worth it when you weigh that amount against what you gain.
- Sign up for email subscriptions, where discount and close-out items may be mentioned. Be sure to ask, however, why these items are on discount or being discontinued. If they're being discontinued because they simply don't sell, it may not be a great move to buy a ton of units.
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