- Identify a target market and research its needs
- Select a brand name and business location
- Obtain required licenses and permits
- Find quality manufacturers to supply products
- Negotiate terms with manufacturers
- Set up an online order and inventory system
- Market products to find retailers to sell to
- Promote products to retailers and consumers
- Manage finances and growth
The U.S. fashion market will exceed $148 billion by 2023, with apparel market exceeding $800 billion. The U.S. wholesale trade market is a $46 billion industry with expected 9.1% annual growth through 2026. Apparel, food, toys, and electronics are lucrative wholesale sectors.
Wholesale businesses buy products in bulk from manufacturers and sell to retailers. Retailers then sell products to consumers. Wholesalers invest more upfront than retailers and use platforms to promote and maximize sales.
A wholesaler could make $78,000/month after 6 months. Kitchen utensils are a growing market. Wholesaling focuses on business-to-business sales and supplying retailers with products for end customer sales. Starting a wholesale company requires hard work but can be profitable.