How to Start a Wholesale Buying Club
There are numerous reasons why people want to start a wholesale buying club and one of those is to save money by purchasing in bulk. This is also a good business to generate profits while helping other people to purchase at low price.
Knowing how to start a wholesale buying club can be a daunting task especially if you have no idea about the process.
Wholesale buying clubs can exist for different kinds of products. Some buying clubs are exclusively available only for people residing in a particular area while other clubs are available for all members across the country. Learning how to start wholesale buying club is a nice way to meet people and also to generate profits.
Determine the Kind of Wholesale Products
As part of knowing how to start a whole sale buying club, it is important to determine the kind of wholesale products that will be offered to the members. Most of the time the products are associated to those that are found normally in the supermarket such as foods of different types, baby stuffs, shoes, children’s apparel and many more. If you have a bigger capital and space, you can offer several wholesale products and not just one or two. When you finally decided on this aspect, select a descriptive and eye-catching name that applies to the wholesale products that are being offered.
Create Distributor’s List
Create a list of different distributors that club members will most likely patronize. For instance, if you are planning to start a wholesale buying club for shoes, you can create a list of famous online and physical shoes stores for your members. Products are obtained generally from retailers, local distributor, and national distributor or directly from the producers. Therefore, you should explore these options in order to obtain a good price for the wholesale products while ensuring that members will patronize the brands.
Set-up the Membership Price
Once the wholesale products were obtained, it is now time to determine the price that will be offered for the members. This is also an important factor on how to start a wholesale buying club as the price greatly varies depending upon the focus of the club. Take note also that more than generating profits, the objective of the buying club is to allow the members to save money on their purchase. It is important therefore that the price is set within the limit and not too expensive for them.
After building the network, you should attract more people to join the club by placing leaflets in the participating stores and posting club information on blogs and forums. You can also send press releases to various media outlets, offer several people with free membership and launch a website where potential members can sign up.