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NOTABLE! You’re not selling wholesale?

Discussion in 'Business Models, Niches, Industries' started by Scot, Jun 6, 2018.

  1. Valor
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    Valor Gold Contributor FASTLANE INSIDER Speedway Pass

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    Bump.

    I just wanted to say, if there's only one thing that you take from this thread, it should be this: follow up.

    Received a wholesale inquiry a year ago. Talks died out several times. Kept following up, and just received my first PO from them.

    Received another wholesale inquiry last month from someone with 2 locations, exchanged a few emails, and then never heard back after I sent them my wholesale application. Just followed up with them and offered some free "test" units, and they were more than happy to take me up on the offer.

    I haven't even actively sought out wholesale accounts yet.

    Looking forward to this.
     
    amp0193, Scot and Andy Black like this.
  2. exclusives88
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    exclusives88 Silver Contributor FASTLANE INSIDER Speedway Pass Summit Attendee

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    Hey guys, I got my first large order but I'm worried that it's a scam @Valor @amp0193 @Scot

    The buyer wants to buy 200 units, pick up and ship it to Argentina. He provided an address which does not lead to an address but a house. His name is very generic - Paul Smith. What type of payments should I take to ensure that I do not get scammed? He said he can pay by credit card. Can this be a stolen credit card and later, charges be reversed?
     
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  3. Lucious
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    Lucious Lucious FASTLANE INSIDER Speedway Pass

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    Does he have a registered business number? Registered Business name?
     
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  4. Scot
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    Scot Ductus Exemplo Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Just like @Lucious said, does he have a business name, LLC?

    If you’re concerned about it, I’d say for new customers that can’t provide a credit report from D&B, they must pay with a cashiers check/certified check. (Maybe wire transfer)

    Also, why does he want to ship them international?


    If not a scam.. congrats!!
     
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  5. Valor
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    Valor Gold Contributor FASTLANE INSIDER Speedway Pass

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    Don't be afraid to ask questions about where they plan to sell, why the order is shipped overseas, etc.

    Wholesale accounts aren't just a simple transaction like customer purchases. They are an ongoing relationship, and the more you guys are on the same page, the better (if it is indeed legit). If he is hesitant to provide more info, I'd be very cautious.

    Maybe ask which payment method he prefers. This could be a tell-tale sign too.

    This all reminds me of another question I wanted to ask everyone here. What are your application processes like for opening a wholesale account? Old-school PDF, digital forms, something else? What info do you require?

    I don't really have a specific process for this at the moment. I want to appear as professional, while making it as easy and fast as possible for someone to complete, and at the same time gather enough info to weed out all the deadbeats.
     
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  6. Scot
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    Scot Ductus Exemplo Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    It really depends on who you customer is. If its a large retail chain, they're going to have their own very detailed and involved process, that you will have to conform to.

    If you're selling to independent retailers... @AllenCrawley or @amp0193 you guys have more experience here.
     
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  7. Wolfman
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    Wolfman Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    Hi,
    Old school...call the guy or have him call you and follow your instincts after asking a couple of questions.
    Greg
     
  8. Determined2012
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    Determined2012 Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Certified funds only. Copy of valid ID card. Signature receipt, and only HE can sign for it.
     
  9. Wolfman
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    Wolfman Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    How about both? Get all that good stuff and still talk to him. I told you I'm old school. There are guys a lot smarter than me and you that can probably figure out how to forge a "valid ID card." I believe, yes, you're instincts are correct and you'll get paid. By the way, congratulations on the big step in the right direction.
     
  10. Walter Hay
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    Walter Hay Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    If the total value is worth $2,000 or more you could get him to pay via escrow.
    Escrow.com have reduced their fees on small transactions.

    I like escrow because the buyer has to pay before you deliver, and provide you precisely meet the terms of his order, the escrow company will pay you when you have proof od=f deleivery or if to Argentina, proof of shipment.

    Just beware of the risks in relying on a requirement to get his signature on a delivery document. Styluses used to sign delivery gadgets could well result in a signature so distorted that it would not stand up.

    Not only that, but most delivery people couldn't care less if Mickey Mouse signed.

    Walter
     
    DeepScripted likes this.

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