Wholesale businesses are for opportunists who can spot potential and have the resourcefulness to connect manufacturers and retailers efficiently and profitably.
While the business model is a simple one, the execution of such a business can be rather challenging.
This is especially true in the gloves space where the industry is highly distributed, innovation is rife, and you’re battling against stiff competition.
But, with that being said, there has never been a better time to start a wholesale gloves distribution business. Demand is booming around the world and there are opportunities everywhere.
As such, we thought we’d give you some advice on how you can start your very own wholesale gloves distribution business.
Here are our top tips:
1. Gain an understanding of the industry.
Before you start, it’s important to do your research and gain an in-depth understanding of the gloves industry.
Any homework that you do will stand you in good stead to get a grasp of what buyers are looking for, and how you can serve that need.
It will also help to avoid common mistakes and start you off on the right foot. Don’t rush this, it’s important.
2. Identify the products you want to sell.
Once you have a macro-understanding of the industry you can then turn your attention to a specific niche that you want to serve.
Identify a section of the market that you think you can add value to and select the specific types of gloves that would be appropriate for that target audience.
It’s a good idea to focus your scope quite narrowly in the beginning so you can be more precise. There will always be opportunities to grow and expand later on.
3. Find a reputable and reliable supplier.
Before you can start talking to retail partners, you’ll want to ensure that you build relationships with suppliers who will be able to provide the types of gloves you’re looking to sell on.
Look for companies with strong track records, the right values, and a pricing structure that is not only competitive but can scale with your business as it grows.
Here at Nastah, we work with several wholesalers, and we do everything we can to become true business partners with those organizations.
You want to work with someone who is going to walk the path with you, not just someone looking for once-off business.
4. Craft a compelling story and business plan.
Once you have your supplier in place it’s time to craft your go-to-market strategy.
This should include a compelling story of why retailers might want to partner with you and a solid plan about how you’re going to go about winning those deals.
Use all the resources at your disposal and plan the nuts and bolts of how you want to operate your business.
This will change over time but by having a good plan in place from the beginning, you’ll maximize your chances of success.
5. Persist and persevere.
The last piece of this is to be resilient and persistent. Starting a wholesale business is not easy but it’s incredibly rewarding when you get it right. So, throw everything you have into it and don’t give up. Tackle obstacles head-on and work as hard as you can to make it work.
If you’re looking for a world-class gloves supplier with a strong track record of clients across the globe, then look no further than us here at Nastah.
We love working with enterprising wholesale companies and we’d love to help out.
Get in touch today and let’s explore how we might work together.