5 Profitable Wholesale Business Ideas in Bangladesh for 2023
Looking for profitable wholesale business ideas in Bangladesh? Check out our top 5 picks for 2023 and start your journey towards success today!
Wholesaling is the process of buying a certain product in large quantities and selling it to retailers in smaller quantities or as needed. It is another alternative supply channel that is crucial for maintaining market price stability, along with the supply chain from producers through distributors to retailers.
Wholesale product businesses have always played a crucial role in the supply chain, acting as intermediaries between product manufacturers and retailers. However, in the case of a wholesale business, it is very important to adopt a proper plan and have a clear understanding of the market.
Without proper knowledge of wholesaling, traders often remain unaware of the opportunities for profitability in the wholesale business. Moreover, there is a strong possibility of losing a significant portion of profits.
Now, let’s explore 5 unique and profitable wholesale business ideas whose current market demand is quite dynamic. Today, entrepreneurs’ insights into everything from apparel and electronics to health and beauty have enabled them to tap into profitable business sectors while also helping them produce and select sustainable products.
Best Wholesale Business Ideas in Bangladesh
1. Electronics Business
Electronics business The electronics industry is one of the key players in the digital industrial revolution, gradually expanding worldwide.
In this era of technological advancement, the global consumer demand for various electronic gadgets and appliances is gaining momentum.
If you, as an electronics wholesaler, can establish a solid business by sourcing and distributing electronic devices and accessories to retailers in this sector, on e-commerce platforms, and even directly to consumers, it can be highly profitable.
However, this is a highly competitive sector where understanding the latest market conditions, along with maintaining relationships with manufacturers and all related channels, is essential for business success. The high demand in this sector and its fast-growing nature make it one of the top wholesale or dealership business ideas in Bangladesh.
2. Fashion and Garment Products
The garment industry of our country has been developing steadily since its inception and will hopefully continue to do so in the future. New trends constantly emerge in this sector, making it very promising.
As a wholesaler in this sector, you can easily establish a business by buying and selling various stylish apparel for men and women, considering their growing demand. Therefore, you can consider this sector as one of the top wholesale business ideas.
To start your business, you can select attractive collections of products from emerging designers or established brands. In this case, your target customers would be retailers in this sector, various boutique houses, and online fashion stores.
Regardless of the approach, maintaining the product’s quality is essential. Additionally, to differentiate yourself in the market, it’s crucial to have a supply chain that can provide eco-friendly clothing in various sizes.
However, to succeed in the wholesale business within this sector, it’s imperative to build strong relationships with suppliers. Moreover, it is crucial to be able to offer competitive prices for your products.
Read More: Pharmacy Business Idea with Small Investment
3. Health and Beauty Products
Consumers are now increasing their focus on health and wellness. Hence, the health and beauty industry has seen tremendous growth in recent years and the growth will continue in the future. The health and beauty product business is a fast-growing business in Bangladesh now. Therefore, you can consider this sector as one of the top wholesale business ideas.
As a wholesale distributor of health and beauty products, you can supply the necessary items of spas, salons, and various cosmetic and beauty products to retailers. You can also sell on online marketplaces.
You can offer a wide range of products, including skincare items, various cosmetics, and hair care products and gradually work on increasing sales. Additionally, associating with reputed manufacturers and trusted suppliers, and properly branding their products can make your business highly profitable in this sector.
However, you need to comply with the proper rules and regulations in Bangladesh and arrange all the licences and permits. You should remain updated about the latest product developments and ensure the sustainability of the products you offer.
To meet the growing demands of customers, focus on selecting trusted and well-known brands in the market and exclusively include their products in your business.
4. Home and Kitchen Essentials
The importance of home and kitchen essentials in our daily lives is undeniable. Therefore, it can be said that the wholesale business of these products is highly profitable for entrepreneurs.
There is a significant and continuous demand for a wide range of products in our daily lives, including cookware, tableware, home decor, and house cleaning items. As an entrepreneur, you have a great opportunity to quickly establish a strong position by entering this sector.
Read More: Profitable Village Business Ideas
However, it is crucial to ensure sustainable product production by collaborating with reliable manufacturers. The main customers for wholesalers in this sector are retailers, but you can also explore selling your products in departmental stores and online marketplaces.
In addition to offering unique and innovative products, this sector also emphasizes product sustainability, catering to specific customer segments. This makes it one of the most promising wholesale business ideas.
5. Stationery Products
The stationery wholesale business market is experiencing continuous growth, offering good profit potential for entrepreneurs.
However, it’s important to note that the margins in this business tend to be low. The success of the business relies on a high turnover rate. Typically, wholesalers receive a margin of 30 percent to 40 percent from the manufacturer.
Retailers, in turn, may have to pay a margin of 25 percent to 30 percent. Consequently, the average margin for wholesalers falls within the range of 5-10 percent.
Some brands offer a credit period of up to 45 days. To thrive in this wholesale business, it is advisable to offer a diverse range of brands and products. Additionally, building strong relationships with retailers is crucial for success.
Here is how to start a stationery business and make it successful.
Wholesale Business Idea in Bangladesh with Low Investment
Here are some wholesale business ideas that you can start with low investment but they have high profitability. Some low-investment wholesale business ideas can be:
- Fruit and vegetable wholesale business: This is a low-cost business that can be started with a small investment. You can buy fruits and vegetables from local farmers and sell them to retailers or restaurants.
- Building materials wholesale business: This is a low-cost business that can be started with a small investment. You can buy building materials from wholesalers or manufacturers and sell them to contractors or homeowners.
- Textile wholesale business: This is another low-cost business that can be started with a small investment. You can buy textiles from wholesalers or manufacturers and sell them to retailers or clothing stores.
- Pet supplies wholesale business: This is a low-cost business that can be started with a small investment. You can buy pet supplies from wholesalers or manufacturers and sell them to pet stores or veterinarians.
- Business of agro items: Wholesale distribution of agricultural products, including fruits, vegetables, and grains, can be a promising business, especially if you establish relationships with local farmers and suppliers.
Though these wholesale business ideas have potential, it’s important to spend time on market research, and plan your investments wisely according to your business location, demand and investment amount.
You may also read: Small Business Ideas in Bangladesh with Low Investment
License for Wholesale Business
You also have to comply with Government Rules and Regulations for the business you are going to start. You must arrange Trade Licenses and other necessary licenses.
Dhaka North City Corporation has made the licensing service fully online. Now you can apply for your license online here- http://erevenue.dncc.gov.bd/.
For other areas in Bangladesh, contact your Union Parishad, Pourashava or City Corporation office.
Bottom Line
Regardless of the wholesale business idea you choose, the key to success lies in your investment, business area, and investment plan. If you are considering starting a wholesale business, it’s important to first select the specific sector you want to trade in. Establish connections with wholesalers and 2-3 related traders in that particular sector.
You should follow the right process on how to start a Wholesale Business. Learn about the logistics of collecting goods from wholesalers and establish a network with the buyers with whom the wholesaler conducts business.
In summary, before launching your business, thoroughly consider all aspects, conduct research, make necessary investments, and have a backup plan to mitigate risks. It’s important to be prepared for initial challenges, and success will come as you continue your business journey with courage.
