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Advice on ordering physical products wholesale?

by marketingenius
5 replies
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I am experimenting with wholesale, but I am not sure how to safely structure this transaction. I am buying a test batch of 100 units, which are being sent out to a fulfillment center (Amazon). The supplier is in the USA.

My question is, what is the standard payment method for wholesale transactions? Is it typical to have a full payment upfront? Any advice on how these transactions generally work would be incredibly enlightening and helpful. As of right now, I am planning on just paying the full amount upfront with Visa but this feels naive. The company is asking me what my preferred method of payment is and I don't want to come off as a novice.

This is a new arena for me, so I have no experience what-so-ever.

Thanks
#advice #ordering #physical #products #wholesale
  • Profile picture of the author justray
    I don't know what products you are buying wholesale or the amount in question, but, in my case, only one wholesale vendor requested a certified check up front, with a minimum $$ amount; the others, were okay with a credit card. (The credit card is always much safer, too.) After the initial six months with most vendors, I was able to create an account, whereby I was billed monthly. Most use the credit card method, at least, in my short experience.
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  • Profile picture of the author tbk125
    To start credit card seems pretty standard. All the suppliers that I have had offer me net30 or net60 terms first ran a credit check on me. You wont sound naive asking to pay by credit card especially if they are smaller orders.
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    • Profile picture of the author marketingenius
      Thanks all, very helpful. Will use Visa for the first order.
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  • Profile picture of the author feedia
    Most true wholesale vendors offer either payment up front or terms (net 30, etc.....but will run a credit check). Most are ok with a Credit Card, and some will even accept paypal.
    If you are unsure of the company, I would avoid 'wire transfers'.
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  • Profile picture of the author Dennis Millbrath
    I would never do a wire transfer unless it is someone you know and trust.
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