Business Opportunities

There are effectively endless online business opportunities when it comes to wholesale product sourcing. It all just comes down to finding a product that will sell and a lot of careful planning. But how do you know if the product you have in mind is the right product for you?

There is no definitive way to find out if the product you have in mind will be a  success so it is best to start with a short list of products and put them through a process of elimination to determine which will have the highest likelihood of success.

A great way to start (if you haven’t yet decided which product to wholesale source) is to figure out your target market and your main avenue for sale. If eBay or similar auction site is your intended avenue for sale then your research will be comparatively easier than otherwise, as it is a contained market of sorts, where all sellers and buyers abide by predefined rules. Some examples of eBay selling rules include:

• - Maximum characters per title
• - What you can include in a title without circumventing policies
• - Which categories your product can be listed in
• - All regular auctions have a definitive time limit
  

Of course these are but a few of the rules applicable to all sellers in standard auctions, but what it does mean is that you can start to figure out the reasons why some sellers do better than others when selling the ‘same product’. Eventually you will start to realize your ‘product’ simply isn’t the item that you’re selling. It’s the entire package. From your name, to the way you present your advertisements, color use and layout, starting bid value, as well as feedback rating.

Whilst it’s not extremely important at this stage to analyze all of the sellers you come across with a fine toothed comb, you should definitely keep this idea of the ‘entire package’ in mind when starting your eBay research.

Ok now back to your shortlist of products. We’re assuming at this stage that you’ve already found your required wholesale suppliers and have found what you believe to be genuine discount prices for the items in your shortlist. (If you need help with finding the right wholesale dropshipper or supplier for you, it will be covered in another topic).

From here search for available auctions of your product using the exact name of your product as well similar names that people might use to sell the same or similar products. Take note of how many sellers are currently selling that product (if any) and how much they’re being sold for. Keep in mind to factor in costs of selling (i.e. listing fees and potential paypal deductions) to ensure any profits you estimate are true profits.

Don't be alarmed if your entire list of products is deemed to be unprofitable. If anything, this entire process will teach you to apply this kind of technique to practically any kind of product and be able to determine if it has the potential to succeed in the marketplace. That's the true meaning of global product sourcing.