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How Do I Find Brand Sources?

My name is Benjamin and I am currently a Junior in high school. After I graduate high school I plan to become a businessman. So my question is how do sources materials at a great price to sell higher.
#business #entrepreneur #marketing

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Deanna’s Answer

Hello Benjamin - Both Constance and Zimkita have very good answers. If you plan to become a businessman, you should definitely chose something that you enjoy. With that in mind, the idea of buying bulk or wholesale is a good idea, but you should also spend time looking at a few areas in preparation.
1. What do you want to sell and are there a lot of people already selling a similar product? If so, this could affect how you set your pricing.
2. Does the item you want to sell have a competitive advantage or a value over similar products (a differentiator), where you can ask a premium price?
3. Where and how will you sell your item? If you sell on an online platform, be sure to check out the %'s they take as this affects your price. If you plan to sell in a physical space, there are a lot of costs you need to consider.
4. If you return to the suggestion of choosing something you enjoy, it makes this step easier, which is know how you will promote and market the item. You need to know who would want the item and what might appeal to them in your marketing.
Being a businessman is a great profession.

Deanna recommends the following next steps:

If there is an opportunity to mirror someone you know or work as an intern, it is a rewarding step.
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Zimkita’s Answer

My suggestion is to buy in bulk. Whatever you are trying to sell look out for conventions or expos , like for example Magic fashion or Photobooth expo in Las Vegas.

Check out Allie Express and Alibaba , they tend to be cheaper, but expect longer shipment.

Search hashtags on Instagram for wholesale and Etsy.
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Constance’s Answer

I believe that what you are asking about is buying products at wholesale. Marking the prices up and reselling the product for a profit. There are a lot of things to consider in this. Once you decide on the type of product(s) you would like to sell, you will need to find a wholesale supplier/distributor that stocks your product. If there is a range of products you plan to sell, you will most likely have multiple suppliers. The supplier will either have set prices for the products or may negotiate depending on quantities. You will also need to decide if you will be housing/storing your products yourself or if drop shipping is a better option. There are websites that will let you post product request and suppliers will submit quotes to fill that order; websites such as these present a great opportunity to source different brand in one place. Though there are website built exclusively for wholesalers, you will find wholesale deals in many of the auction house/marketplace sites like eBay, iOffer, Dealdash and the like.

Constance recommends the following next steps:

Start with deciding what you would like to sell. Remember to ask yourself, "Why would someone want this? Who would buy this? Who does this benefit? Does this product target a specific demographic? How easy is it to source for this product? " and other questions in that vein that will help inform your decisions.
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