Tips to Finding Good Wholesalers

[meanngreen04]

I started this for those who are looking to start buying wholesale. This is specifiically based upon my own findings.

If it's too good to be true, then it probably is. There are numerous scams going on around the internet based upon technology alone. Just go to your favorite web search engine and type Wholesale cell phone scam. Look how many people have been taken time and time again. Some have been taken multiple times for large quantities of cash.

Many of the "wholesale" forums and listings on certain sites are from the same individuals. Many are career criminals and scam artists. Keep in mind a true wholesaler will have a realistic price on the phone they are selling. They are a middle man. You are not going to find a wholesaler offering the latest cell phone 200-300 below retail. It is unrealistic. An actual wholesaler will leave you with a slim but attainable profit margin.


Do your homework. It has been my experience that a whoesaler will not seek out buyers. They have plenty of buyers to begin with. Anyone seeking to sell items should raise a red flag. This is not to say that everyone is a scam artist, but you must use logic with reason. Why would an individual sell when they could go on other sites or locally and make more money off the items they have. I was approached today with an offer to buy Iphones at a decent price. The individual wanted half up front and the other half was cod. They refused to give a business name and would not take cc. This is a big no no. Use a cc whenever possible. If you have been scammed, the cc company can try to recover your money for you. ANY offfers asking for money transfer, western union. or anything else of the matter is a scam. Do not send money like that. You will waste away a lot of hard earned money.

Last but not least, there are individuals on here who have spent years in the wireless industry building up references. I have been in this field for a little over 2 years. I have found wholesalers. The key is to network,. Help anyone without expecting to get back, but you will. The information in the wireless industry travels fast. You can make good contacts quick.. Your good business practices will land you man opportunities if you begin networking early. Let people know that you are willing to help and ask let them know what you're looking for.
Its like looking for flashing solutions. The search button does wonders, but the more you contribute the more willing people are to help you.

Do not give up. I tried many differnt ways. One of the best resources I have found is craigslist. It is a key source to grab phones from as to the fact there are individuals looking to sell quickly. I made it for almost a year just on cl. Pawn shops can be a good source as well. I have made multiple trips to pawn shop dealers. I have offered them a list of phones that I'd like to purchase. Give them prices and pay them a commission for collecting them. Most do not deal with phones and are glad to earn the extra income doing their job.


Remember money earned quickly can be lost just as quick. The big deals go to the big dealers. Work your ay up the ladder. While your climbing the ladder, you never know when you'll get the extra push up.

[Mr._Pseudonym]

;^) Good advice, sir. Thank you for sharing it.

[AlexFG]

Great advice man. You are right about craigslist and even eBay to a lesser degree; when you are just starting out.

[Nat3]

Very well explained

[myjec2002]

GREAT Information. I will add my 2 cents....Stay away from China if you don't knkow what your doing.

[provyde]

Thanks pal. Some good tips. I'd like to add a few of my own. I've been in the wireless wholesale business since 2001 and I've seen millions lost to scam artists, many of whom are surprisingly still in business. No matter how trust-worthy someone seems on the phone, it is absolutely necessary to do your own research. You cannot trust your gut when it comes to wire transfers or COD secure. There are also people who want to buy using a fake cashier's check. If you are selling to someone via COD secure for a significant amount of money, have them fax a copy of the check in advance so you can verify it with the issuing bank. The Fedex/UPS drivers dont know how to spot a fake. DONT BE TOO ANXIOUS TO DO A DEAL. If it can't wait until you have done your research, let it go.
Get all the information you can from a new vendor/customer so you can research them online. I always get a physical address and look it up on google maps street view to see if it is an actual establishment or someone working from their mom's basement. Get references! Check the references, even if you dont know them. You would be surprised how many times I've checked references someone gave me and they were negative. Google is such a valuable resource for checking up on a company. You can google the company name, their address, the owners name, the phone number. Check everything to make sure there is nothing posted anywhere about this company scamming people.
I've made it a policy to absolutely avoid trading iPhones and Blackberries. There are too many children who suddenly discover some broker in Dubai wanting to buy for top dollar in large quantity and bombard the industry trying to find this product. It is too difficult to research when the market is so saturated with buyers and it is too easy to get scammed since the dollar value of each order is quite large and the payment terms are almost always wire transfer. It is not to say that there is no money to be made in trading this type of product, I've just found that it's a waste of time for me and much too risky for much too little return. Anyone with half a brain can find buyers overseas who are willing to pay top dollar for this product so do you really think someone with physical stock is going to give you a deal?
If anyone wants to check on a new wholesaler, I would be more than happy to share my knowledge. I know quite a few and can give you my advice on dealing with them.