Are you hoping to break into the online wholesale industry in 2023? You may already know that it’s a lucrative and fast-growing market. However, if you’re not familiar with this unique e-commerce model, you might not know which products to focus on.
Fortunately, you can find tons of wholesale ideas with potential and promise. Then, you can launch your wholesale company on the right foot and improve its chances of achieving success.
In this post, we’ll discuss why you may want to start a wholesale business (and website) in 2023. Then, we’ll cover seven of the best wholesale business ideas for the current market. Let’s dive in!
Why You Might Want to Launch a Wholesale Business
The world has seen a massive increase in e-commerce sales in recent years. Most experts agree that this isn’t just a trend but that it’s here to stay.
If you’re hoping to dive into the e-commerce world, the wholesaling model is a great way to start. However, you will need to create a wholesale website.
Using WordPress to make your website is a smart idea because it’s a beginner-friendly Content Management System (CMS). You can even utilize free, pre-designed (but customizable) WordPress themes to manage your site’s appearance.
Moreover, if you pair the platform with the right tools, you can likely launch your wholesale store in record time. The WooCommerce plugin is probably the most popular extension for creating e-commerce businesses on WordPress.
Moreover, WooCommerce can seamlessly integrate with our Wholesale Suite plugin. This powerful tool gives you added functionality specifically for wholesale management. For example, it enables you to easily create order forms, set minimum order subtotals, and manage bulk discounts.
All-in-all, a wholesale business can be very successful in the current market. Plus, with so many resources to help you launch your wholesale website, there’s little holding you back.
7 Best Wholesale Business Ideas to Start in 2023
Now that you know why launching a wholesale business is a good plan, you might like to choose which products to sell. Here are seven of the best wholesale business ideas for 2023!
1. Wholesale children’s toys
One popular wholesale product niche that’s likely to succeed is children’s toys. There’s a huge market for this category. In fact, according to the Toy Association, toy sales in 2021 were valued at $38.2 billion in the U.S. alone.
Therefore, selling toys can be a fun and accessible wholesale business. However, since you’re selling a product that young customers will use, you’ll want to ensure that you’re only pairing with reputable suppliers. This way, you can count on them to provide safe products.
You’ll likely need to ensure that your toys comply with any safety regulations in your region. On the flip side, you may not have to worry too much about quality control because kids often break toys!
2. Wholesale furniture and home goods
As customers become increasingly comfortable shopping online, they are more likely to virtually purchase items with higher price tags. That’s what makes furniture one of the best wholesale business options.
Consumers looking for couches and beds likely already know that they will need to shell out a reasonable amount for these items. They might be actively looking for wholesaler goods to save some cash.
Moreover, these larger products will likely have a higher Return On Investment (ROI). Pairing furniture with home goods is a natural choice. You can even specialize in luxury home items to maximize your profits.
3. Wholesale apparel
Wholesale apparel can be a great option for anyone interested in fashion. Plus, there’s lots of potential to expand your business with this category. There are so many facets to fashion. So, if the business is going well, you can start to offer more products.
Additionally, fashion is a highly profitable choice. The U.S apparel market is currently valued at over $335 billion (annually). This value is expected to keep growing steadily.
However, you might have more competition if you choose this niche. As such, you’d be wise to take the time to develop a solid wholesale marketing strategy for your apparel store. You may also want to stay up-to-date on the latest fashion trends.
4. Wholesale sporting goods
When it comes to the best wholesale business ideas, timeless products are often your best bet. There are few things more enduring than sports.
That’s why selling sporting goods is another excellent option for wholesale businesses. A wholesale sporting goods store could sell everything from baseball mitts to volleyball nets.
Plus, if you already plan to sell items in bulk, this may be the perfect product category. Schools or professional sports teams can become regular and repeat customers. Therefore, when marketing for this type of wholesale business, it’s wise to target these groups.
You could even create a loyalty program to incentivize these buyers to keep coming back to your wholesale store. You can easily create and manage this program using our Advanced Coupons plugin paired with WooCommerce.
5. Wholesale party supplies
You may recall when parents used to buy party supplies in bulk from the local brick-and-mortar party supply shop. Now, wholesale party supply stores are starting to make headway online.
This type of store is known for selling items such as party hats, balloons, streamers, and maybe even the occasional clown costume. Customers who can’t find the exact party knick-knack they’re searching for at their local businesses often won’t hesitate to look for a party specialty store. If it’s wholesale, even better!
This business model is a low-risk choice because party favors are typically disposable or one-time-use. Plus, as long as you are strategic about attracting new customers, this can be a highly successful business. To boost your chances of turning a profit, you may want to collaborate with party venues or market to younger parents with children below ten.
6. Wholesale jewelry
Wholesale jewelry is another popular option because, similar to furniture, buyers may seek out reduced prices for this type of luxury item. A wholesale jewelry business may deal with anything from engagement rings to diamond-studded watches.
Jewelry is also great for selling wholesale to retail because some consumers like to buy luxury items at boutiques. Therefore, you could partner with local jewelry shops and gain long-term customers.
Keep in mind that consumers will expect the best when it comes to product quality. Therefore, you may want to put extra effort into relationships with these repeat customers. You can do this by offering occasional promotions, check-in calls, or even a loyalty program that provides exclusive benefits.
Alternatively, you may opt for more affordable jewelry for a younger audience. You could even offer customizable gifts for holidays like Mother’s Day.
7. Wholesale organic food
Our last business idea may surprise you. As consumers become increasingly aware of what producers put in their food, the organic industry is growing quickly.
Therefore, organic food may be an excellent wholesale business option, especially if you have experience in the food industry. However, as with children’s toys, you’ll likely need to deal with more regulation.
You’ll want to make sure that you’re only partnering with dependable and reputable suppliers that comply with all requirements to receive the ‘organic’ status. Plus, you’ll need to stay on top of any food-related health emergencies, such as salmonella outbreaks.
Conclusion
Launching a wholesale business can be an excellent opportunity to get involved with e-commerce. However, if you have little experience in wholesaling or online sales, you might struggle to decide what type of products and services will be most profitable.
To recap, here are some of the best business ideas if you want to become a wholesaler:
- Children’s toys
- Furniture and home goods
- Apparel
- Sporting goods
- Party supplies
- Jewelry
- Organic food
Do you have any questions about the best wholesale business ideas for 2023? Let us know in the comments section below!
