Selling wholesale to retail is a profitable business plan as retailers always require products in bulk to ensure enough stock.
As a retailer, you need to build relationships with customers to sell more products, and this process takes time.
In the wholesale business, you only have to partner with established retailers who have a strong base and purchase power.
That's why in this "Selling Wholesale To Retail Guide", I'm going to show you how to do that the right way.
Benefits Of Selling Wholesale To Retail Stores
As a wholesaler, you sell your products to retailers and they buy in bulk to ensure sufficient stock, and if the product is good then its demand and your sale will increase.
Like this, there are many other benefits of selling wholesale over doing retail store business.
Here are some of the benefits that I think is more important:
- Selling in bulk can provide much greater profit margins for you.
- Get rid of retail operations.
- Increase in brand reach and exposure.
- You can also diversify it to grow more.
- Lesser chance of your product getting unsold or lose.
- And much more...
By selling wholesale you don’t need to build a customer base because you are dealing with the retailers having potential customers.
Steps To Selling Wholesale To Retailers
Selling wholesale to retailers is a pretty simple process, let’s see how you can start it in just 3 easy steps.
Step 1: Pricing For Wholesale
Pricing is very important and it depends on your business and brand. In order to sell more, you need to wisely price your products.
There are two main types of pricing:
- Cost-based Pricing – It is calculated by adding the profit amount into the cost of making the product. e.g. The cost of making a watch is $100 and so you can add your profit of $10 in it and distribute it to the retailer for $110.
- Value-based Pricing – It is focused on the features and benefits of the product.
Look at wholesale prices for similar products offered by your competitors, and offer lower prices with better product quality.
Step 2: Setup Your Website
Now it’s time to set up your wholesale website. Adding wholesale to your WooCommerce store is very easy.
There is a plugin named Wholesale Suite that adds wholesale business functionalities to your WooCommerce store.
Now here are some important things you need to set up on your website for your wholesale to retail business:
- A registration form for retailers, so they can apply for an account
- Retailers account login system, so they can come back and order new stock
- Wholesale order form for retailers to easily order stocks for their stores
- Wholesale tax control according to your country’s law
Set up above mentioned things to start selling in the right way. And guess what? Wholesale Suite can do all of that in just a few clicks.
If you don't have it yet, go ahead and get it today!
Step 3: Approach Retailers
Approaching retailers is a skill that helps to take your wholesale business to the next level.
To sell more products you have to build a strong relationship with the retailers.
Find interested retailers in your niche and send them an introduction mail along with a free sample product, doing so will help you get their attention.
A free sample strategy is a great and effective way to adapt to new retailers. Free samples are much more effective than videos and pictures.
Follow these two rules to make this strategy successful:
Here is an attention-grabbing ready to use template that you can send to retailers.
– ARE YOU THE RIGHT PERSON TO SPEAK WITH?
– I FOUND YOU THROUGH [NAME]
– REGARDING [X] PRODUCTS
Hi [PROSPECT NAME],
I’m [YOUR NAME] a co-founder at [YOUR COMPANY], we’re in the [NICHE] space. We make [XYZ PRODUCTS].
Just wanted to send you a free sample so you could get to know our product, [SPECIFIC PRODUCT], and see if [PROSPECT COMPANY] might be interested in stocking it.
I’ve also included a product sales sheet containing some more information about the product and our company for your review.
You can also see a video of it in action here: [SHORTENED URL] (optional line)
Is this something your customers would be interested in?
You can reach me directly at [MOBILE PHONE NUMBER] or [EMAIL ADDRESS].
Via – Wholesale Suite
Find new retailers daily and reach them to see quick growth.
5 Effective Tips To Increase Sales
Here are 5 effective tips that help your wholesale business to get more sales.
- Offer prices better than your competitors to attract new retailers
- Streamline wholesale ordering, delivering, and billing
- Offer bonuses or incentives for top-selling retailers
- Provide excellent customer services
- Build a network with the people in your niche
These tips will surely help to get more sales and grow your business to the next level.
Selling wholesale to retailers is one of the most profitable business plans.
And having a fully functional wholesale website is extremely important for your wholesale to retail business.
That's where you need Wholesale Suite which will take care of everything for you in just a few clicks.
If you have already using it, that's amazing. If not, get it here and set it up today.
Now you are ready to start selling!
If you have any queries regarding this wholesale business then ask in the comment section.