Most people think that operating a supplies business require massive amount of cash to begin. This perception is often not right, and you should reset your mind if you are one of them. Visualizing on the realities will make your mind more open and solution oriented. Practically, being a small scale wholesaler doesn’t have to be hard, as you only require little amount of capital to kick start.
CategoriesJob Creation in Kenya
So how much do you really require to become a small scale wholesaler in Kenya?
The answer is simple and it all lies on the amount you have at hand. As much as what you have can buy something from a distributor then you can work and grow from it! However, the greatest and most import thing here is getting the best product that suits your target market. Here are some questions that can help you arrive quickly to a choice commodity;
l What commodity is basic in the area?
l How much does it cost?
l What are the transport requirements?
l What’s the market demand for the commodity?
l Does it require licensing?
l How fast can I finish my supplies? Etc…
In a nutshell let’s have a look at the above questions and see how they can help you begin the small scale wholesale business. As with the first one, it’ll be kind of you to at least do your supplies on a commodity that has ready market since you deeply need to grow. Whoever said every product has its own market was not wrong, but for this case, you definitely wouldn’t want your money to “sleep?” Check on something that will sell fast and keep you working. Note that the more the turns you make the higher the profit.
Secondly, don’t go for expensive products. For instance it is will not be wise to begin a laptop selling business if the much you can afford is for only one gadget. It is obvious you may get market for the computer but for how long will you have to wait to sell it? Yes, it’s factual that the computer may give you good profit but remember your priorities as a beginner small scale wholesaler is to earn customer as well as consistent flow of profit. So you need some sort of daily used commodity.
As a wise advice, try all ways to chop off any transport requirements to avoid any farther interference on the price of you commodity. For instance let’s say you are in the supply of plastic bags (commonly used for packaging). If the distributors gives you a 100pc batch at 80/= and you take 10parkets of them, your expected gross profit should be 20/= per batch, then 20 multiplied by 10 equals to 200/-.
Know here is the idea, since you are a starter, try as much as possible to maintain that profit even if it means walking while supplying the products from shop to shop. Apparently you can use a bicycle since it doesn’t require fueling and its maintenance cost is low.
Supply whatever you can until you get the product(s) with the highest return. And can as well sustain you in the long run. This means, you have to look into the future market: for instance, ask yourself will the product remain basic five or so years to come? If yes, go for it and as you grow you can know begin to test the market on other products using the same principle.
All info here is free, please share with your friends and let’s reduce joblessness in our society. “You’ll always receive more of what you share!”