4 Things You Need To Know Before Choosing a Supplier

Alright guys, so you’ve got your business plan sorted out, you’re done with the market research and you know the exact product(s) you want to start selling. Well…congratulation! You’ve only won half the battle 🙁 Your products aren’t just going to fall from the sky; you are now at the juncture where you have to find a supply for your products. The truth is that there are a ton of suppliers out there who are involved with the product of your choice, but not all of these guys are good guys, not all of them can deliver good/sellable products.

So, how do you separate the wheat from the chaff? You’re in luck; this is where we come in. Today, we will be looking at tips on how to choose the perfect supplier for your product.

Here we go!

1. What is the quality of their products?

Verifying the quality of your suppliers’ products is of utmost importance since your customers will be the ones making use of these products and giving reviews on your listing. This is the reason we suggest you ask for samples of their products and analyze these samples. Poor product quality can make or mar your business relationships. In our sells like hot cakes video course, I go into more details on how you can analyze your suppliers’ products, it involves step-by-step instructions and will be very helpful to you. Go check it out here

2. Are they local or foreign?

Using foreign or local suppliers both have their merits and demerits. For example, if you work with a foreign supplier you have to consider the costs of importation and shipping, although the product cost might be lower compared to working with domestic or local suppliers. You should carefully weigh your options and make a decision that will cut costs and ensure the smooth flow of your business.

3. What is their experience level?

I’m sure you’ve heard of the aphorism – “Experience is the best teacher.” Well… this is true. Suppliers who have experience working with Amazon are more likely to do a better job and give better results and fewer hassles, compared to those who are fairly new to the process.

4. Legitimacy Issues

This is very important. It is crucial you investigate the legitimacy of whichever supplier you choose to work with. You don’t want scammers to get a hold of your hard earned $$ and then just vanish into thin air without delivering on their promises. There are a lot of fraudsters out there so be wise and investigate before committing to anything.

Our video course does great justice to this topic of finding the right suppliers. There we’ll show you how to find suppliers without spending money; how to analyze suppliers on alibaba so you can pick the BEST, also key questions to ask your potential suppliers so you can make the best decisions and avoid being scammed.

You can check this out and so much more in our video course here.

 

See ya later!

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Last Wall Comments

 
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 adam says at 21:09 et
What books do you recommend for personal growth guys?
 
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Claudia says at 21:09 et
The 4 hour work week, Secrets of the Millionaire Mind, Losing My Virginity, Think and grow rich, Laptop millionaire, Millionaire fast lane, 10x rule, How to influence people, Cashvertising,
Rich dad poor Dad, The richest man in Babylonia, The blue truth, The hidden entrepreneur, Tony Robbins books and audios.
 
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 ED says at 21:14 et
What do I do about state taxes? What's nexus?
 
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 jo says at 21:15 et
You are responsible for collecting and remitting sales tax to a jurisdiction if you have established substantial presence in the state of delivery. Once established, you have created nexus. The threshold for this presence differs from state to state and a company’s presence in each state should be examined to determine if nexus has been established or not. A company clearly has nexus if there is a business location in the state/jurisdiction. Once you establish nexus, you are required to register as a retailer with each state before collecting sales tax for that state. Check more here https://www.reddit.com/r/FulfillmentByAmazon/wiki/business_taxes_legal
 
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 Roman says at 21:15 et
Can I put my URL on my product package?
 
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Claudia says at 21:15 et
Yes you can + inside your insert card too. You cant put links only in communication to the amazon customers via amazon email system.
 
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 Papa says at 21:37 et
Hi guys.. Would love to know if you use paypal checkout in your shopify store, or any other checkouts in addition shopify?
 
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 chris says at 21:38 et
Paypal accounts for about 45% of our sales. I'd say 20% of conversations are coming from Amazon. Also add Stripe and they'll have a much more straightforward guest checkout with credit card.
 
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 Victor says at 21:38 et
Stripe is a way to go!
 
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 adam says at 23:03 et
Has anyone got their business insured?
 
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 Emili says at 23:03 et
Check with your supplier to see if they have product liability in placement for you first as a customer, as most do.
 
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 Emili says at 23:04 et
He means product liablity probably... If you have a professional account you have to have insurance. Under ATO all Pro accounts must have $1 mill liability insurance. Its pretty straight forward. Also If you sell $10k for 3 consecutive months on your "Individual account" you have to provide insurance. Check Amazon TOS!
 
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 little_tiger says at 23:04 et
He means product liablity probably... If you have a professional account you have to have insurance. Under ATO all Pro accounts must have $1 mill liability insurance. Its pretty straight forward. Also If you sell $10k for 3 consecutive months on your "Individual account" you have to provide insurance. Check Amazon TOS!
 
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 Gus says at 09:45 et
HI ROCKSTARS!!!! SUPER EXCITED! Today is my first $2000 day! I launched 2 months ago. It's spring & Summer product. (not hammock!) I'm very excited to see more!
 
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 Chris says at 09:47 et
Well done gus... the best is yet to come! like in a song!
 
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 Ted says at 09:47 et
Inspiring stuff. Thank you for sharing GUS!!!
 
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Qqq2 says at 09:51 et
May the force be with you !!!
 
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TRI says at 01:24 et
Hai, I am obsessed with online business. I have bought some e-commerce affiliate software, that is completed with with Youtube video review for every product I added. The e-commerce is linking to social media. It covered three affiliate : Amazon, Ebay, and Ali express. Organic traffic is about 8,000 visitors in 3 months, but ZERO affiliate hit. No sales. Then yesterday I saw this system. Here claimed can get usd 45,000/month if we follow all the guide. My question, if we just started with Shopify, and we follow the guide, is it possible to get that number? By some posting I read, the contribution is more come from FBA instead of Shopify. Nice to meet you all here.
 
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 Lane says at 01:25 et
Glad to have you here. There are many shops on shopify that are doing much more than 45k, it's a pretty modest number but after couple of years you should be doing much more than that. just take your time to learn!
 
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Andres says at 10:01 et
Hello Im a fresh rookie Im a little confused on the Goal of 45,000.00 .....It reads...."Our goal is to make at least $10 per product per sale and at least make 10 sales per
day from each product, which means from five products, we are going to make
$45,000 at least per month plus your Shopify store profits and, of course, minus the
cost of sales, production, shipping and advertising. Our estimated profit is $45,000
per month. Well you can’t live with that but you would agree it’s a good start "

Is that goal only when you start with Amazon, or still good if you take the Shopify to start with...?
 
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 Mike says at 10:02 et
Welcome Andres. $10 per product per sale and 10 sales is a universal rule of thumb for any ecommerce store. 10-10 rule some people call it. It's same rule no matter if you start shopify or amazon or even better BOTH channels combined.
 
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 Diego says at 10:04 et
I agree, starting both is a way to go, you never know the future and which source will be more profitable for your product or niche! Good luck!
 
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 meni says at 05:04 et
Great tips, thx guys!
 
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Gad says at 17:43 et
Hello everyone :-) my name is Gadi, and I'm a new member. Glad to meet you all , and looking forward to be part of your community :)
I would like to ask few questions:
First I'm thinking of adding a donation component to my sales. so part of the profit goes to donation. Is it sounds reasonable, regarding the expenses ?
Second - as I said I live in the UK, will it be a mistake to sell only for the UK market in order to save costs of transaction fees, and saving shipping time. I'm not sure that the thinking is correct, but as I said, I'm a newbie.. thanks, gadi
 
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 Chris says at 17:45 et
Welcome Gad! Donation component is a great way to boost your sales but it must be linked to a good cause and make sense, so that your product is somehow linked to a good story that makes sense
 
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 quirkyfox says at 17:45 et
yeah, like Bamboo product for saving trees...
 
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 Mike says at 17:46 et
hi Gad. Regarding UK question you did not explain if you do dropshipping or FBA? Anyways you can start with UK and expand!
 
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Gad says at 08:03 et
Thank you all for your comments
Regarding your question Mike, I thought about
Dropshipping at first
 
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Gad says at 08:03 et
Two more questions please :
Is there AliExpress in UK, so the shipping would be shorter ?
Second - is it possible and profitable to creat one store, and then inside to create few nitches in it ?
 
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 Mike says at 08:05 et
Gad, Aliexpress is a chinese company. They ship internationally but it's always from china. You can watch video on finding local dropshipping suppliers in your niche in UK if you want to go local route.
Regarding the store - again it depends on what you plan to sell. See my video about branding talking about small brand or more general brand to have better idea!
 
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Gad says at 04:58 et
Thanks !
 
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Ernesto says at 04:41 et
Hi, how can i add a wishlist button and create account button to the header of my shopify theme?
 
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 Ted says at 04:41 et
You need to install giftlist/wishlist shopify app, search app store for it!
 
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Mark says at 11:57 et
Great course. What other payment gateways can I use as I don't live a country to be able to apply for paypal. Can't wait to make my first sale. I'm already done with the store and facebook page. Thank you.
 
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 Emili says at 11:57 et
Maybe Stripe ? it allows to accept major credit cards!
 
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Jay says at 04:06 et
is this course still up to date in regards to FB ads?
 
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 Mike says at 04:06 et
Yes of course!
 
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 Natalie says at 15:15 et
works great for me
 
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 Father says at 15:15 et
yes great tips there Jay!
 
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Brian says at 12:19 et
I am new
 
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 Mike says at 12:20 et
hi Brian, just follow the videos as they are in the course..
http://sellslikehotcakes.co/videos.php