Looking for wholesale business ideas? If yes, here’s the list. Wholesale business is basically selling bulk products with minimum rates to help retailers keep some profit for themselves. This type of business is ideal for the ones who do not want to face hassles from customers. Wholesalers earn quite a profit because they buy products directly from the manufacturers or producers. There are certain products that are always high in demand, something like garments, groceries, agricultural products, automobile accessories, etc.
Related Read: 25+ Distribution Business Ideas
Your wholesale business can also be done online. Because now there are many online websites who provide products at wholesale rates. This will also help you create a base in the international market. This business needs a medium to a huge investment. If you cannot support your business with the savings you have, you should consider taking a loan. There are various schemes and if you are a woman, trust us, you have hundreds of schemes to help your business.
Therefore, the very first thing before you start a wholesale business will be to identify the item that has a future and something that is your passion.
What Aspects Should You Consider?
There are many things to consider before you start a wholesale business
- Market Research
The primary thing to consider is the market. The type of product you are about to sell should be saleable in your area of the market. To know your market, you need to do good research and also take suggestions or talk to the retailers. They will help you choose the right product, but always use your common sense to do the business.
After you have figured out your market size and also decided on the product, now, you have to think about the supply chain. You have to source your products from a manufacturer or a cheap supplier or some sources from where you can sell them in the international market. Always, compare different prices and also check the product quality, you don’t want to get cheated with the product quality, right?
Find yourself a good inventory system. A warehouse, a godown, etc and also build an office to calculate your daily expenses and incomes. This will help you manage your daily expenses. You will get a clear picture of your profit and expenses at the end of the month.
These are a few aspects that you need to consider before you get into a wholesale business, rather than a business. Now, let’s check out the wholesale business ideas that you can hang into for some profit. We will strictly advise you to do a study before you get into any conclusion.
Here Are The Best Wholesale Business Ideas
We have picked the best wholesale business ideas just to help you. These ideas mentioned below will never get outdated or their demand will never cease because these are the basics to human beings.
1. Agricultural Equipments And Chemicals
Agriculture is the base of many countries all over the world. 70% of the world population lives on agriculture as their business. Without agriculture, we won’t be able to feed ourselves. As the population is growing dramatically, now we are 756.49 billion. Hence, an increase in the population is leading to a demand for agricultural products. If we try to cultivate crops or meat, we won’t be able to feed the population. Therefore scientists have invented chemicals that help solid regain their fertility and boost the growth of plants and production of animal and milk products.
Agricultural equipment stands in high demand all over the world and mostly the countries living on agriculture as their national income.
2. Wholesale Textile And Apparel Business
From the time humans learned to cover themselves there has been increasing demands for garments all over the world. There are various items that can be sold for a wholesale business like fabrics, threads, sewing supplies, footwear material, leathers, rubbers, etc. You can choose anyone you like.
If you have knowledge about readymade clothes, their quality and price according to it, you can sell garments. You can open an online shopping site, somewhat like Alibaba, Clubfactory, etc who provide clothes at wholesale prices. Research and market comparison is very important when you are starting a business. If you are thinking of international business, research plays the most important role. Also, prepare a list of your competitors and try to do something unique to establish your business. This is one of the profitable wholesale businesses.
3. Wholesale Kitchen Utensils
This is also a kind of product every house in every country needs. Frying pans, pots, spoons, forks, cookers, etc are home necessities. Set up your connection with the manufactures and buy products at cheaper rates from them. If you have the manpower, human resources and capital resources you can manufacture products yourself and sell them. This will help you earn more profit.
If you have products made from varieties of metals, trust me your business is about to expand within a short span of time. Utensils made from various metals have heavy demand in the international market. Many people prefer buying products online because they provide discounts. You can do the save and sell your products worldwide.
4. Wholesale Furniture
Another important household essential. Furniture includes sofas, sofa cum beds, chairs, coffee tables, benches, open shelves, bookcases, dining tables, bar counter stools, armchair, side chair, beds, mirror, mattress, dressers, nightstands, desk, storage cabinets, file cabinets, etc. Every single piece included in the furniture list is an essential household commodity.
Furniture has demanded all over the world starting from your local market. You just need to find a cheap manufacturer to maximize your profit. Retailers always try to find wholesalers who can provide cheap material and with fine quality. Wholesale business if furniture has huge foreign trade potentials.
Related Read: 20+ Retail Business Ideas & Opportunities
Portable furniture is in demand all over the world. Lightweight, foldable furniture and that is multi-purpose is trending worldwide. If you wish to try your luck with the wholesale furniture business, go on!
5. Wholesale FMCG Products
FMCG is Fast-moving Consumer goods which are basically consumer packaged goods. Mon-durable products and also these are sold quickly. Companies like Unilever, nestle, coca-cola, etc are FMCG companies. The product range of FMCG is toiletries, packed food, frozen foods, cookies, beverages, cosmetics, dry goods which include sugar, tea, coffee, beans, etc, candies, soaps, shampoos, prepared meals, over-the-counter-medicine, consumer electronics too and many more.
You can easily choose all these products combined or just concentrate on some specific range of products. These products possess a high demand in the market. If you start your business with a moderate capital, trust me in just a year with proper marketing and good suppliers, you will start eating huge profits. Then you can expand your business internationally. You will be needing various licenses to start a multinational wholesale business.
Check the market statistics before you choose the product. Beverages, packed foods like chips, candies, etc have high demand in the international market. Chocolate is one of the most important FMCG products for international business.
6. Wholesale Business of Children’s Toys
This industry like the other will always be in demand. Every country has a huge demand for children’s toys. They are very easy to manufacture. If you wish to produce them on your own and then sell them at wholesale prices, you will be rich in a few years. Children’s toys have a huge demand in India. India is a very good and growing market for selling these toys. Toys like vehicles, cubes, puzzles, blocks, jigsaws, dolls are in demand. Imported toys have a huge demand in the global market and if you can supply toys at a reasonable price, you will be rocking.
As mentioned earlier, if you wish to manufacture these toys, you can do it but you will need capital and also human resources. A place to set up your manufacturing unit. Online business is also a way to earn popularity and reach the global market. If you have access to all these, start your business right away.
Craft And Stationery items Wholesale Business
7. Craft And Stationery Items
Handcrafts are popular all over the world. Crafts it’s like crayons, paints, acrylics, gums, threads, glitters, yarn, fabric scraps, muslin, oil pastel colors, markers, color pencil, clay, toothpicks, glass beads, inkpad, sponge, wooden beads, feathers, cotton balls, scissors, paintbrush, foam brush, bubble wraps, egg cartons, pine cones, across, containers, hard paper, art papers, scrap paper, handmade paper, tracing parts, colorful tapes, ruler, wire clipper, classwork copies, geometry boxes, etc.
There are hundreds of stationery and craft items you can sell. Every day many new craft items are being invented in the market for more creative and lively craft making. The wholesale business of Stationary and craft items is a profitable business.
These were some of the futuristic wholesale business ideas that we have specially handpicked for the new entrepreneurs. Before you jump into any conclusion, we would request you to look for other options too. Always do thorough research before you start a business.
We wish you good luck and all the best for your business. If you find this worth a read, do not forget to comment in the comment section below.