Importing Wholesale Electronics: Five Steps To A Safer Transaction
Selling wholesale electronics is a great way to start a business. They are in high demand, they don’t spoil and they are relatively cheap to buy. You do, however, need to be careful in making wholesale orders – especially if you are new to a wholesale import business. These tips ought to help keep you safer while shopping in bulk:
Assess Your Current Financial Capacities And Plan Ahead
Never put all your eggs in one basket, or in this case put all of your own money into the business. Buying and selling wholesale electronics can be profitable if done correctly, but chances are you will make mistakes your first few times around. Even if you do things right and your business booms, you are still left vulnerable to events out of your control. Examples of these include car accidents, medical emergencies, sudden tariffs on imports and the like. Bottom line is you need to take a long hard look at your finances to determine just how much money you can put into your business.
Study Up On A Potential Wholesale Supplier
The first thing you need to do is visit the website of a wholesale supplier. Check out the wholesale electronics they offer as well as the overall professional appeal of the site. Pay special attention to the payment methods, which are often found at the bottom of a site. If you like what you see, then you should intensify your research. Reseller feedback sites will tell you how other entrepreneurs find the supplier, social media scanners will give you an idea of what the average consumer has to say and domain lookup services will tell you whether the information on the supplier’s website is legit or not.
Create Disposable Profiles Containing No Personal Information
So let’s say you’ve narrowed down your choices and you have a few candidates for supplying wholesale electronics. Don’t just call them up with your home phone or drop them an email using your personal email address. You need to create separate, disposable accounts that have nothing to do with your own personal life. This greatly reduces the chances that you end up divulging information that can be abused by scammers and fraudsters.
Study The Policies Of Your Wholesale Supplier
Shipping, complaints, cancellation and return – these are the policies you need to be absolutely clear with before you even consider putting an order of wholesale electronics from a supplier. You need to know who pays for shipping, what constitutes a valid return claim, the time limits for cancelling or returning goods, hotlines for customer services and similar policies. You can sometimes find this on the supplier’s website, but sometimes you need to dig deeper just to know for sure what the policies are. Remember to use the disposable profiles you just created.
Use Services To Protect Your Credit And Bank Account Details
You really don’t want to give your credit card number to someone living half a world away and is virtually impossible to track down. You can use payment services like PayPal or single-use credit card services like ShopSafe to mask your own financial details. You can even insist on using escrow sites for an added layer of protection when ordering wholesale gadgets, where you’ll have a third party keep your money and release it only when you receive the items you paid for.