After spending the last few years as the owner of
http://www.closeoutexplosion.com
a wholesale and closeout business, and having been
personally active in
retail and wholesale, I have compiled a few important
tips that I would recommend to all resellers.

Tip #1

Always ask to visit the warehouse where you can
see the products. An honest wholesaler will allow you
to visit his warehouse, since he has nothing to hide,
and is proud of his wholesale products.
Many New York fashion showrooms will
have warehouses in Brooklyn, Queens, and
New Jersey. Some of these warehouses will
allow visitors, while others won't,
which is likely true as well in
other cities.
But at least you want to visit the
wholesale showroom to meet the
suppliers that you will
be doing business with.
If you can't personally visit, you can
always send a relative or friend on your behalf.
I have had wholesale buyers from as
far as Nigeria and Lebanon send
relatives or friends to visit
my closeout warehouse.

Even if you don't visit the warehouse, isn't it nice to
know that the warehouse actually exists, and the merchandise
can be inspected?

My warehouse is open six days a week, and I gladly welcome
all resellers.

Tip #2

Always make sure to focus on more than one product.
While you can do really well with only one product, you can
experience even stronger sales by offering your customers
complimentary products. For example, if you sell shoes,
you should consider selling dresses as well, since the same
customers who buy dresses also wear shoes.

Tip #3

Focus on brand names, quality, and service, not just price.
if your business competes based on only on price, there can always
be a lower priced competitor. But if you focus on top quality brand
name
merchandise and great service, you will be faced with few similar
competitors.
For example, while the New York Garment District is
full of showrooms that carry boutique labels
such as Voir Voir and Tally Taylor, 
you will find much fewer suppliers of
labels such as Guess or Ralph Lauren.
Hope you enjoyed these tips, would love to hear your feedback.