eBay: The People’s Company
Internet November 26th, 2001
from BusinessWeek: "Meet the People's Company. Like a democracy, it can be a noisy and unruly place, where citizens sometimes think the folks in charge are numbskulls. But the people's passion prevails at eBay because the people are firmly in charge."
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As your business grows, you may choose to start buying from wholesale sources and selling on eBay at retail. This can be very profitable, but only if you choose the wholesaler wisely.
The Internet is full of opportunities to buy lists of wholesalers, often for just a few dollars. Save your money. You can get the same quality of information (or maybe even slightly better) for free by using any of the popular search engines and plugging in keywords such as “wholesale,” “manufacturer” or “drop ship.” But even that is not the best route to take.
Instead, be more specific in your approach. Think about the type of products you want to sell, and then look for manufacturers, wholesalers and distributors you can work with. Find companies whose products meet your quality expectations, that have prices and terms you can work with, and that deliver the service level you want to provide your customers. Get sample products so you can see the quality yourself. Some companies send free samples, while others charge a nominal fee–either way, don’t try to sell something you’ve never seen. Be sure it is truly worth what you expect to sell it for.
Be sure you’re dealing with a true manufacturer, wholesaler or distributor, and not another middleman who is marking up their prices and increasing your costs. Ask for and check references. You want to talk with others who are buying from these sources. In addition, check with the Better Business Bureau, any industry associations, the consumer protection agency of the state in which the supplier is located, and any other source that may be able to verify their claims.
Legitimate manufacturers, wholesalers and distributors will also want information about you, including proof that you are a legitimate business and that you have any necessary licenses and tax identification numbers. A supplier who doesn’t ask for this information is probably a middleman whose ethics couldn’t stand up to moderate, much less close, scrutiny.