The following wholesale closeout secrets are closely guarded by
industry insiders. By learning these wholesale and closeout trade
secrets you can establish a profitable business. Many of these
concepts might seem simple, but unfortunately many entrepreneurs
need to first learn them by trial and error. You can save yourself
a good deal of money, and move forward to profitability, by
learning these concepts now.

Secret #1

There are no membership requirements to start a wholesale or
closeout business. Simply start as you would any type of venture,
and start contacting suppliers directly. I have seen online
programs that charge upwards of $5,000 for providing entry into the
off price sector. If you have the right merchandise at a price that
allows resellers to make money, they will be happy to purchase your
inventory.
I have seen drop shipping websites that charge you
in order to sell their designer products.
Yes, they can have pretty good deals, such as below
wholesale prices on Polo Ralph Lauren and Nike
clothing, but there are literally thousands of
wholesale sources that will do business
with you without you having to pay
a membership fee.
On the other hand, it can make sense
to pay a fee if a wholesale membership
site will give you the contact details
for wholesale sources that you might
not find on your own.

Secret #2

There is no need to pay thousands of dollars to consultants to
learn the business. Honest wholesalers who will want to engage in a
long term relationship with you will be happy to offer you guidance
and tips. Although they might be pressed for time, once you start
buying from them it will be in their best interest for you to
succeed.
Some of the best advice and tips
I have gotten have come from
the brands themselves, whether it
was from doing business with R&M Richards,
Voir Voir, DKNY, Tommy Hilfiger, or Ecko, I learned some
great ideas.
Secret #3

You can deal directly with suppliers. You do not need to deal with
middlemen and brokers who will further mark up the products as they
seek to make money.

Secret #4

Trade shows are goldmines. You can meet thousands of vendors and
potential customers, and the best part is that trade shows are open
free to the trade.

Secret #5

The key to success is your ability to buy at the right price. If
you purchase high quality surplus and liquidation deals at low
enough prices, you will be able to easily find retailers and end
users to buy your product.
Having said this, it has to be merchandise that 
your customers want.
For instance, Levi's jeans are really popular
in Israel, Tahari suits are in demand in
Nigeria, and Michael Kors handbags are
desired in China.