Salehoo December Special

Salehoo is running a special Christmas promotion through the end of December 2010.

Anyone who signs up for a SaleHoo membership between the 1st and the 31st of December will receive a brand new 5-part 2010 Webinar Series absolutely FREE.

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These Webinars feature Marc Ransom (A SaleHoo Community Guru) and Alice Delore (Seller extraordinaire). They cover the latest advice and information on the following topics:

Scam Prevention

  • Where to find genuine suppliers through Google
  • A little-known ‘tip off’ that lets you know you’re dealing with a genuine supplier
  • The one thing you do with email that guarantees trouble

Importing From China

  • 3 steps to safe dealing
  • How to find out who you’re really dealing with
  • What to do when you’re sent fake or counterfeit products

The Secrets of Effective Online Product Sourcing

  • An easy 5-step method to get started
  • How to build relationships with suppliers
  • The inside secrets to finding the best suppliers
  • 2 of the most common and deadly misconceptions
  • One super-effective way to get past minimum order requirements

20 Top Secret eBay Tips

  • The one thing even more important than keywords
  • How to generate repeat business
  • One thing that will increase bids every time

Business setup for eBay and Online Retailers

  • Taxes
  • Do you need to register?
  • Useful resources

click below to check out Salehoo’s directory of over 8,000 legitimate wholesale suppliers:
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If you need more convincing, or are the type of person that likes to do thorough research, you can also check out our review of Salehoo.com before proceeding.

Find Cheap Wholesale Sources

Do you ever wonder how some sellers can make money on the rock bottom prices they sell their items for? Believe it or not, many long running sellers are not only surviving while selling at those rock-bottom prices, many are also be making more profit than others who are listing the same items at a much higher price! This is because these big-time sellers can get their goods super-cheap from the very best wholesalers, meaning they can buy more, sell more and make more profit!

How can the large retailers can sell goods so cheaply?

Because they buy their items in big bulk (and I mean big!) and as a result, they can sell their items for very competitive prices. They order huge quantities at a time, often spending hundreds of thousands of dollars on a single bulk order which considerably reduces the price per unit. Large retailers have often spent years building relationships with their suppliers which means they get the best possible deals when they buy in such high volume. While you might be a few years away from being able to spend a few hundred thousand on making a bulk order, there are plenty of things you can do to help you get the best deals possible from the very best suppliers. Here are a few tips to follow when you search for new suppliers:

  • Be prepared to spend a lot of time do conducting pricing research. This is absolutely essential for all retailer sellers. Top sellers differ from other sellers in that they understand the amount of time that goes into pricing research and they get stuck in and do it! Pricing research will help you to determine whether it is possible for you to compete in a particular market.
  • Go for suppliers who offer a guarantee or warranty for all items they sell to you. This is very important for keeping your costs down and profits up, as if you end up with a few faulty items, you need to be able to return them to your supplier, rather than refund your buyer yourself. This also helps to increase your sales as it gives buyers confidence in your products and your customer service. Usually, the warranty will be between you and the supplier – meaning if the items proves to be faulty, your buyer will return it to you then you will return the item to your supplier for a refund or exchange.
  • Avoid any suppliers who charge extra fees. This will help to keep your costs per unit down and there are plenty of suppliers out there who will not charge any extra fees such as monthly memberships or charges to access their web site’s store – you wouldn’t pay a supermarket to look around at what they have to offer would you? So don’t do it with any suppliers!
  • Import your items! You can save (and make!) a lot of money by importing goods from abroad. Countries such as China and India are much cheaper to produce items in than Western countries which means you can make a lot of money when you sell them in your own country.

How do they find these amazing suppliers?

There are several ways to find the very best suppliers out there:

Call manufacturers directly – this can help you get in touch with the very best of their retail suppliers, and if you can call and say “Hi, I’m Mike. Gary from Precision Manufacturing gave me your number and told me you are the man to talk to about…”. You can find names of manufacturers by visiting Manta.com an online directory of businesses in the US, UK, Australia, Canada as well as other countries. Here you can search for manufacturers by entering the name of the product you are looking into sourcing then following the links to the contact information for the manufacturer.
Use online wholesale directories such as SaleHoo which lists over 8,000 of the best suppliers on the internet. Also, check out our review of salehoo.
Go beyond the Internet. There are other ways to find great suppliers – try trade magazines and trade shows – a great way to build all-important relationships with suppliers. You can find trade shows near you by Googling ‘your state + trade fair/trade show’ or if you are really serious, you can visit the massive trade shows held in China. (I feel another post coming on…)

By using the above tips and information to find your next supplier, you’ll be profiting like an eBay PowerSeller in no time!

*** Update: We now have an ebook available detailing how you can make money on ebay. Just fill in the form on the right and you’ll receive this free ebook as well as occasional updates about new wholesale suppliers. ***

SaleHoo.com Review Redux

Originally, I thought SaleHoo.com was a site very similar to Liquidation.com where you could buy products directly on their site. However, my original review was based mostly on their sales page. This was before I had much time to do a full review of Salehoo. I apologize for this, and hope to clear some things up with this post. (Here’s the first review of SaleHoo.com)

Q. Can you buy anything directly from the SaleHoo website?
A. No. They are basically a directory of wholesale suppliers. You search for a product and a list of suppliers that carries that product is displayed. If you click one of those listings, you’re taking to a “company detail” page that lists the supplier’s name and business information. They also have member reviews listed on this page.

Q. Are the member reviews useful?
A. There are a few good reviews scattered around, but for the most part, each supplier has 1 comment stating that the company does what they say they do. There are a few useful user submitted comments, but this wouldn’t be my main selling point.

Q. Is the member forum useful?
A. Yes. Very. This may be one of the best reasons for signing up for SaleHoo. They have topics covering everything from how to get started, to commenting on bad experiences. The forum has over 50,000 members and 30,000 articles. Access to this forum is worth the selling price.

Q. What is the SaleHoo.com Research Labs?
A. This is a great new addition to SaleHoo, because it helps take some of the guesswork out of choosing a product to sell. Just enter a keyword and the research labs will give you a plethora of great information about that keyword/product. The information is geard toward selling on ebay, and they give you information such as Average Sale Price, Sell-Through Rate, Best day to end your auction, most common auction duration, and a rating of how much competition you’ll face. This tool is a great start for any of your product research.

They also have a Learning and Training Center with articles about setting up your business, watching out for scams, selling on Ebay, and how to import products internationally.

So SaleHoo.com is a bit different than I first expected, but it turns out that it’s an excellent resource for finding and researching wholesale suppliers. They have some excellent tools which actually makes them much more than just a directory. For the relatively small fee, you do get a good list of wholesale sources, and access to a member forum that’s very useful. I think Salehoo is one of the best ways to get your wholesale business off to a quick start.

>>> Click here for access to SaleHoo <<<

Review of SaleHoo.com

I think I’ve found a very good wholesale source for many of you readers! SaleHoo.com is similar to Liquidation.com or GlobalSources in that they list many other wholesale sources. However, SaleHoo.com is built on a community of users that comment on and review all of the wholesalers. Actually, the moderators at SaleHoo.com even secretly purchase from the suppliers so they can write their own reviews. **Update: Information added about the SaleHoo Research Labs below. This is a new feature that you’re going to love!

1. What is SaleHoo.com?
SaleHoo.com is a members-only directory of wholesale sources. They have thousands of wholesalers, drop shippers, liquidation companies, and manufacturers that you can purchase from directly.

2. Member’s Forum
A great feature of being a SaleHoo member is that you can ask the community for advice before you make a purchase from any of the suppliers. You can ask questions about suppliers, products, or even the quality of products coming from various countries. With this safety net, you can be more confident that you won’t get scammed or ripped off. And as always, if you have any other questions, you could always leave it in the comments here. I love to help out other small business owners. (And those hoping to get into online business.)

Update: What is the SaleHoo.com Research Labs?
The Research Labs section is a great new addition to SaleHoo, because it helps take some of the guesswork out of choosing a product to sell. You can enter a keyword and the research labs will give you a ton of great information about that product. The information is geard toward selling on ebay, and they give you information such as Average Sale Price, Sell-Through Rate, Best day to end your auction, most common auction duration, and a rating of how much competition you’ll face. They also have charts where you can compare sales numbers of different products against each other. This tool is a great start for any of your product research.

I’d like to include more information in this review of SaleHoo.com, but they have a sales page that really lays it out for you. After you’ve skimmed the sales page and testimonials, I highly recommend the 3-minute tour. They have blue links every so often on their sales page. Just click one of those to review the highlights of the site.

(In case you missed the links, click here to check out SaleHoo.com)