Product Sourcing Course for Flea Market Vendors Lesson 2: How To Avoid Middlemen and Scammers
In this lesson you will find out about the 3 types of Product Sourcing Get Rich Quick schemes and how to recognize them so that you can avoid them.
Step 1: Read Chapter 2 – Middlemen and Scammers (pages 5-11) of the “Successful Product Sourcing” e-book.
Step 2: Review the key points below.
Key Points of This Chapter:
-Key Point # 1: The 3 types of Product Sourcing Get Rich Quick schemes are:
- Product Sourcing Middlemen
- Product Sourcing MLMs (Multi-Level Marketers)
- Junk Product Sourcing Information
-Key Point # 2: The Product Supply Chain should look like this:
Manufacturer -> Wholesaler -> Retailer (YOU) -> Consumer
-Key Point # 3: A middleman is someone who takes your place in the Product Supply Chain and bumps you down a link. So your Product Supply Chain now looks like this:
Manufacturer -> Wholesaler -> Middleman -> Retailer (YOU) -> Consumer
-Key Point # 4: Product Sourcing MLMs bump you down another link (and sometimes many more links) in the Product Supply Chain. These companies usually charge you a hefty monthly fee and allow you to sell their products to consumers. Then they send you different price sheets and allow you to claim to be the wholesaler and recruit other retailers who then can sell to consumers and this can go many levels deep.
-Key Point # 5: Junk Product Sourcing Information can waste a lot of your time. Most of the people that supply this junk information are outright scam artists who are actively and purposely trying to cheat you. Some of them are just looking to make a fast buck selling substandard, outdated information. Very few offer halfway decent information, but don’t have the time or manpower to maintain the information. So the information quickly becomes outdated and useless.
With junk product sourcing information you can spend days, weeks, and even months trying to contact suppliers that don’t exist, are no longer in business, or won’t work with you in the first place.
-Key Point # 6: Learn to recognize the signs of a Middleman or MLM. Learn what to do to help you determine whether the wholesaler is legitimate. (Read page 10 for full details)
Step 3: Review the tips listed on page 10 of the “Successful Product Sourcing” e-book to determine whether the wholesaler you work with is a middleman or MLM.
Middlemen do suit the needs of some flea market vendors. Some middlemen offer lower minimum order amounts and smaller order quantities. For instance, you can find quite a few wholesale flea market items on eBay. Some eBay sellers obtain flea market items from several wholesale sources and package them together and sell them to flea market vendors. The price of some of these lots are low enough for vendors to make a profit from. Also, the items in these lots usually sell well at flea markets. So these lots can offer vendors another product sourcing method before they begin using wholesalers.
As a flea market vendor you may be using wholesalers to source products for your flea market business. After reading this chapter, have you discovered that you may be buying from a middleman? If you are ready to take your business to the next level and/or want to find legitimate wholesalers, please proceed to the next lesson. You will find out why you need to make your flea market business legal so you won’t get cheated.
Lesson 1 Lesson 2 Lesson 3 Lesson 4 Lesson 5 Lesson 6
* Some of the information in this course is extracted from the “Successful Product Sourcing” e-book which is Copyrighted by Worldwide Brands, Inc.