When you accept credit cards, you offer your customers an alternative way to pay you. To receive funds from the credit card company, you must choose a credit card processing company. Credit card processors are the partners that carry out the transaction, an act between the seller and the cardholder that results in a paper or electronic representation of the cardholder's promise to pay for goods or services received under the law. At Wholesale Kitchen Hardware, we strive to make shopping as easy and comfortable as possible.
We accept all major credit cards, checks, money orders, bank transfers, and even offer drop shipping services. Drop shipping is a logistics management method in which we store your inventory and manage your shipment. Now that you've established your wholesale pricing strategy and created a wholesale channel in your store, it's time to look for potential customers. A mobile payment processing function can enable home delivery services for hardware stores, so hardware stores may want to find payment processors that offer a mobile processing terminal, the device through which a transaction is transmitted to the acquiring bank.
Therefore, to create a successful wholesale business, you'll have to offer a big discount on your retail price to those who are willing to buy in bulk. Ultimately, a wholesale business model benefits both retailers and wholesalers by generating efficiencies. Your store can be either a wholesaler or you can set up a wholesale subdivision within your online retail store. However, a new wave of new wholesale companies is thriving in the era of e-commerce as they rethink the way wholesaling works.
Both the Shopify apps, Wholesaler and Wholesaler Club, allow you to offer customers net payment terms. With Wholesale Club, only customers who have approved retail accounts and are logged in will have access to wholesale prices. Because hardware store margins can often be very small, hardware store merchants must negotiate with each seller or supplier to be profitable. However, typically, a retailer turns to a wholesaler or a B2B wholesale marketplace for products.
The type of wholesaler you work with will depend on the specific items you buy in bulk, the retail niche you want to fit into, the type of relationships you can establish, and the wholesale ordering technology you want to work with. The wholesale channel creates a wholesale storefront with your existing products, so setting up this channel requires very little additional work. You can target wholesalers or distributors individually or work with a B2B wholesale marketplace to streamline the process.