Staring a new business can be fun and exciting. Unfortunately, when it comes to searching for wholesale suppliers, there are tons of scammers out there ready to rip off unsuspecting small business owners. There are a few warning signs to look out for in order to tell if you are dealing with a legitimate wholesaler.
Not Requesting Required Documents
Most wholesalers will request your sales tax ID and business license before conducting business with you. While this is not a hard and fast rule, you should be concerned if a wholesaler you're dealing with doesn't care either way about those two documents. Chances are they are not running things legitimately so do further research before getting into business.
Requesting Payments Via Wire Transfer
This method of payment is one of the top ways scammers request payment. This should set off all kinds of alarms if you come across this with any wholesaler.
No Contact Information
If the wholesaler Web site does not have their contact information readily available you could end up dealing with scammers. Any good wholesaler will have that information posted as well as assigning a representative who wants to build a good relationship with you. Many representatives will be available via email and phone.
A legitimate wholesale supplier will be well-known and you should be able to find others who currently deal with them. Don't be afraid to ask questions or get testimonials.
These are just some of the warning signs. It's important to exercise your own common sense and if you're not sure about a wholesaler, don't be afraid to research what they're about.
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