Internet Secrets

I have just been looking through this blog statistics and found that majority of visitors who visit this blog search for the following keywords in google.
drop shipping
importing from china advice
make cash internet auctions
trademe secrets guide business
most popular items on trademe
importing goods pros and cons
ddp dropshipment
selling on trademe
how to import goods from china
ebay resell
wholesaler
good wholesalers
reliable items to sell
cheap mobile phones to resell
cheap electronics wholesalers
where to buy cheap items to resell
where ebay power sellers buy their product from
how people buy cheap items to resell on trademe
where to buy cheap to resell
So if you one of them and looking for the information on any of the above then you came to the right place. I have been importing items from all over the world myself for about 3 years now and I have to say so far it’s been quite profitable. In this post I will address some of the main questions which are faced by anyone who is importing or planning to start importing to make some money.
Question 1) Where to buy products at wholesale price?
This is probably one of the hardest questions to answer. If you where to go and do a search on google for wholesale products you will get about 18000000 results and if you are doing your initial research that’s 18 million potential websites you have to look it. Lets say if you were to continue doing a good research you would probably narrow it down to about 10 -15 websites which may look more or less reasonable. But now the next question comes up can you trust them?. Well to figure out if you can trust them or not you can do one of the following things you can either do more research on each one of them or can buy something from them and hope it will be delivered to you. Well now if all this goes well you will probably end up with one wholesaler you can trust. But now think how much time and effort you will have to put into the research and how much money you will risk by trying out different wholesalers. To honest that what i did at first and it took me lots of time and effort to do the research and to be honest it did not end up to be profitable at the end of the day. So that got me thinking of how i can improve this process to be faster and less risky and one day i was searching the net for something and came across the website called Salehoo, that day i did some quick research about Salehoo and make a decision to give it a try and to honest I never looked back on that decision. From the moment i joined I suddenly had access to over 5000 wholesalers some of them I never heard of or seen before even after doing all that research manually. One of the best thing i found with Salehoo is their support forum and also the requirements for the wholesaler to get listed with them. Salehoo administrators verify each wholesaler manually they buy products from them before the wholesaler gets listed with them. Also Salehoo members get really good treatment from wholesalers because wholesalers do not want to lose their listing within Salehoo. Also if you have a problem with the wholesaler (never happened to me)  you can get support via forum or even Salehoo administrators will contact the wholesaler on your behalf and resolve any issues. Now I will give you some examples of what you can get via Salehoo.
Example 1 Nokia N96 really hot product this days.
Google search

Well this is 10.4 million results to go through (not practical)
Salehoo Search

Gives you 36 verified suppliers no need to do any research just check the prices to find the cheapest one.
Ok now let’s do a further research on Nokia N96
Trade me Search
I have sorted them by lowest price on top

So we can see that the cheapest Nokia N96 is $900 NZD lets converted to USD = $500
Now let’s check ebay

So we can see from the results its around about $500 USD mark.
Well If they are all selling it at around $500 USD we now ask a question What profit margin are they making and where are they getting it from? Well as to profit margin it depends on the quantity you are buying the more you buy the less you pay for the product the higher margin you get. Well as to where they are buying it from its a different story.
Lets now look at what one of the wholesalers on salehoo is offering Nokia N96 for

Now you can see that the wholesale price is about $190 USD to $240 USD depending on the quantity you buy. At $240 USD you can buy just a single item. So now lets to the math if you were to buy an item at $240 and sell it at $500 you will make $260 instantly. Its normally takes about 5-10 days for a supplier to deliver the item to you. Well that was just one example that sort of sprung to mind just mainly because I recently bought N96 for myself.
Ok this should give you some Idea about where to find suppliers and with salehoo they have suppliers for virtually any product you can imagine.
Question 2) which product to resell and which has the highest margin?
This question is quite an interesting one to answer it you will have to do some research. Here are some things to look for when you doing your research.
Competition – How many other people are selling this product
How popular is the product – do some research on what demand is out there for the product
Based on those 2 criterias you can figure out what is the best product to resell. You need to find the balance between the demand and competition because as competition increase the margins become tighter unless there is a huge demand for the product and as demand decrease it will become harder to sell the item so you may have to drop your margin as well.  With salehoo they recently build a tool called product research into their into their website it’s a great tool to help you with your research and guide you towards a good product to resell.

As you can see from the screenshot of the research tool it gives you the potential opportunity for an item (this research was done for nokia). It also shows you what the item is selling for right now on ebay in the ebay prices tab. It also shows you what other adds are running for that item and what competition is out there and what is the demand for the item.
Its a good tool to get you started but then you may want to do abit more specific research related to your country.

Question 3) What is better to buy product and then resell it or to do dropshiping?
I personally can not recommend, which way you should go I always tend to buy the item and then resell it. But I have heard about some people who are making a fortune using the dropshipping method. I guess what i would recommend is to try both ways and see which one is more suitable for you. If you want you can read about pros and cons of dropshipping here (this is an earlier post I posted here on this blog). But one thing I will say is that most of the suppliers at salehoo do support both methods. So it is really up to you which way you want to go.

I hope this helps someone and if you have any questions you can post a comment here or if you you have a question you do not want to disclose to anyone else you can go to wizit.co.nz and click ask a question in the left hand side menu and put subject “wholesale products” .
Good luck

Visit http://www.wizit.co.nz for more helpfull tips
http://www.wizit.co.nz — we help ordinary people to ear extraordinary money…….

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This entry was posted on Thursday, May 7th, 2009 at 12:58 pm and is filed under Earning Online, Online Auctions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.