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Property damage is one of the most common problems why wholesale businesses go out of business. The core of the wholesale business is the storage house, also called the inventory. The inventory helps the wholesaler to stock products and keep them ready to be sold to retailers.
2. Problems while Obtaining Supply
Another core aspect of the wholesale business is the product obtained from the manufacturer and sold to the retailer. Therefore any obstruction while receiving the product supply from the manufacturer can lead to a significant loss to the wholesale business owner—obstruction as in transportation problems, fuel prices, etc.
Apart from that, if any situation occurs at the manufacturer's production unit that may damage the products, it may also prove a barrier between the wholesaler and product
3. Penalties
Most people who are inexperienced in business and don't know how to start wholesale enter into contracts with manufacturers hastily. It might sound safe and secure to have a contract, but if the work is not done according to the contract, then the wholesaler might be legally penalised. Whether it is the fault of the wholesaler or not, he has to pay a heavy penalty leading to a significant loss.
4. Liability for the Products
You may not produce the product yourself, but if the customer gets a defective or unsafe product to be used, the retailers and the manufacturers can be held responsible for the product. Therefore, the top priority while transporting the goods from the wholesale storage to the retailers is to ensure the products are in good condition and the quality is preserved until it reaches the retailers.
5. Thievery
Similar to every business that has a physical storehouse, theft is also common in the wholesale business. Theft is also the reason that leads any business to lose thousands every year. The employees of the wholesale business may do theft. It can be done by thieves when the warehouses are unattained during the night hours or are closed. Thievery can also occur during the transportation of goods from wholesalers to retailers.
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