I get a lot of emails and phone calls from entrepreneurs who are starting a new wholesale business, but most of the advice we give in our magazine and on our website is geared to retailers. I thought it would be helpful to provide some tips to those of you who are starting out on the other side of the fence, so I invited Gail Markert, a consultant in the gift industry, to share some of her tips and advice on what these new vendors can do to get off to a great start.

Today's guest post is from Gail Markert of Markert Group Consulting

Are you a new supplier or considering wholesaling to the gift industry? Here are six tips to consider as you’re launching your new business.

Get an idea. Research your product category on Google images by using an assortment of key words that describe your product. You will see a fractional representation of the variety of products already in your category. Study these for price, quality and style and note any points of differentiation you can use to promote your line. Get feedback on your idea from any industry professionals you know in sales, retail or manufacturing. Is there a niche for this product or has it already been done to death?

Get a Plan. If the product looks viable, create a detailed business plan. There are many resources both online and at your library. This step will include a budget, projections and benchmarks on where you expect the business to be at various dates in the future. Having a written strategy will help keep you on track when distractions occur.

Get Sales. Develop a sales and marketing plan for your line. Will you sell it yourself, just at shows, or will you hire an independent sales force? Determining your sales model early on will help focus you resources and energies in a planned way. Allocate some resources to brand and advertising development, as well. You will need to let buyers know who you are and how they can buy from you.

Get the Scoop. Subscribe to the trade press, both print and online. Keeping up with developments in the industry in general and your segment in particular will keep you competitive and up to date. Read books on any area you need to develop to help your business succeed. There are many helpful books on management, trade shows, displays, sales and optimizing the internet. Ask colleagues for recommendations. Be a sponge, soaking up all the tips and tricks that make gift suppliers successful.

Get Serious. With a fairly low barrier to entry, many new suppliers enter the gift industry every year. This brings newness and innovation to an industry that thrives on it. On the down side, this low barrier can also attract unprepared suppliers who don’t have a realistic view of what’s required and they fail. Expect to put a lot of effort, education and probably more money then you think into becoming successful.

Get Excited! Be an excited and engaged spokesperson for your line. Retailers and reps have the expectation that you will be the source of education and a cheerleader for your products. Positive, upbeat, motivated individuals attract more interest and sales for their line.