A wholesaler is a business or individual who buys goods in bulk from suppliers and sells them to retailers. They generally serve as the middleman of the business transaction. While the most common form of wholesale is between suppliers and retailers, there has also been an increasing number of wholesalers selling to other wholesalers. A wholesaler can also sell products to make goods, buy them from one vendor, and sell them to another manufacturer.
Wholesalers make money by supplying these items to customers for more than they have charged and at a lower price than the retailer would get directly from the producer. The most important advantage of buying from a wholesaler is that it reduces the cost of doing business. Through purchasing bulk products, you will take advantage of cheaper costs, which usually means either making more profits per commodity, lowering your prices, and undercutting your rivals, or a mix of both.
Education criteria vary with the organization or company. A Bachelor's degree in Accounting, Engineering, Applied Sciences, or an industry-related area can be helpful in beginning a wholesale purchasing career. Some companies may favor candidates who have completed a graduation certificate or a degree program.
There is more than meets the eye when it comes to being a wholesaler. For example, did you know that they make an average of $26.43 an hour? That's $54,966 a year!
Between 2018 and 2028, the career is expected to grow 2% and produce 35,400 job opportunities across the U.S.
There are certain skills that many wholesalers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed customer-service skills, interpersonal skills and self-confidence.
When it comes to the most important skills required to be a wholesaler, we found that a lot of resumes listed 16.3% of wholesalers included business development, while 15.6% of resumes included sales goals, and 8.9% of resumes included income. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the wholesaler job title. But what industry to start with? Most wholesalers actually find jobs in the finance and insurance industries.
If you're interested in becoming a wholesaler, one of the first things to consider is how much education you need. We've determined that 73.2% of wholesalers have a bachelor's degree. In terms of higher education levels, we found that 5.4% of wholesalers have master's degrees. Even though most wholesalers have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a wholesaler. When we researched the most common majors for a wholesaler, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on wholesaler resumes include master's degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a wholesaler. In fact, many wholesaler jobs require experience in a role such as finance advisor. Meanwhile, many wholesalers also have previous career experience in roles such as internal wholesaler or sales manager.