SaleHoo?

Whether you are looking for products to sell on eBay, on your retail shop, on your website, or you would just like to find a product at the lowest price available, SaleHoo.com claims, their service is what you need. A Product Sourcing Directory that will help you find suppliers you want and earn a maximized profit.

With 35,000 members from all walks of life worldwide, SaleHoo.com persistently strive on listing and providing information on different wholesalers, liquidators, drop shippers, and manufacturers for various products, and from different countries. Thus, giving their members a bigger chance of finding the best company to transact business with online.

It’s an enticing offer but…

Once we find any site claiming they will help us earn more when we sign up to the service they are offering “with a membership fee” we get excited yet skeptical. Are they trustworthy? Are they worth the price? So we begin searching online about this site or this service, do our homework, and the word “scam” appears on the search results. Oh, my! We lay back and think it over.

SaleHoo isn’t exempted for this word “scam”. There is a website that has been known for exposing SaleHoo as a scam. SaleHoo, however, published an open letter to explain their side on this issue.

So, what should you expect to experience with SaleHoo?

Currently, signing up for SaleHoo requires a lifetime membership / one-time payment of $67.00, and SaleHoo claims to offer their members the following:

1. Has Huge Variety of Goods Including Products
   • They have over 150 categories of goods.

   

   • Aside from suppliers in United States they have suppliers from Asia like Hong Kong, and Philippines. I also found out other countries like Australia, Finland, Britain, Canada, Egypt, Italy, etc… So depending on what product you are looking for, you have good chances to find the supplier that offers you the best deal. Make use of the fully searchable database of SaleHoo; you can sort search results by countries and by type of suppliers.
   • SaleHoo provides access to the best branded, high demand products. I have read some complaints about this statement. Some upset members say this is misleading, because the suppliers they have searched in SaleHoo’s database are selling branded products that are not authentic. SaleHoo said that major designer brands are not selling wholesale, and even don’t sell online. Therefore, if these are the products you are planning to get from this site’s service, you will be very disappointed. If there is a product you doubt is not genuine, SaleHoo suggests that you contact the supplier directly.
   • Right now, there is a feature in the site in beta stage–the Research and Analysis lab. This feature will tell you the percentage of success if you sell a product in eBay. You can check eBay prices while you are still log-in in SaleHoo, know the competition in eBay, what countries has the high and low demand, and list of adverts currently displayed online for the product you are looking for.

   

2. Lists Legitimate and Reliable Suppliers
   • Though SaleHoo claimed that their list has the best drop ship suppliers, genuine wholesale suppliers, liquidation and closeout specialists, and factory manufacturers, there are still chances that the worst are listed in their directory. That’s the point that you should take advantage of the 3 way rating system of SaleHoo. As of now, they have more than 400 supplier reviews.
   • Every supplier in the directory are rated by SaleHoo, Independent eBay powersellers, and the members themselves. So when you are interested in a certain supplier, the rating system–aside from your own analysis–will help you decide whether to continue transacting business with this supplier or not.
   • Some members often leave reviews like if this company is professional or easy to deal with. Some register complains like the company’s legitimacy is questionable; report an error on the information provided; or check the domain registration of the company. Take advantage of these helpful information, and share an input too.
   • I like one comment from a member of SaleHoo, making money isn’t supposed to be easy, do your research people. This is his response to people who are not satisfied with SaleHoo.
3. Caters to home businesses wanting low order quantities
   • “We have suppliers for you regardless of how much of an item you’re wanting to buy. 1 item or 1000.” Therefore, not all companies listed in their directory accept low order quantities. Always check the Supplier Information provided by SaleHoo.
     
4. Updates Lists Regularly / Daily Updates
   • Salehoo claims that they constantly verify and add new suppliers that pass their screen test. As I said above, there are still chances that some suppliers listed in their companies are unreliable. So with regular updates, you are assured that SaleHoo is trying their best to eliminate unwanted suppliers.
   • There are still members in the forum complaining about certain companies they have deal with like counterfeit items and scammers. I’ve noticed SaleHoo responds quickly to these complaints. The staff and other senior members constantly gives advice to these members, and suggests companies on products these members are looking for.
   • I think members should not only rely on the reviews on suppliers on SaleHoo search results, but also participate in forum discussions to keep themselves updated and informed.
5. A proven, and trusted source of info with a guarantee
   • Being listed as a verified merchant of the Fair Trade Authority (FTA), SaleHoo guarantees members that their site adheres to the FTA’s Merchant Code of Ethics and insures members for up to $300 against fraud or scam.
   • SaleHoo offers a 56-day money back guarantee (eight weeks). Members who are not satisfied with the site’s service may get their refund as long it is reported within the 56 day period.
   • Membership payments are processed by ClickBank.

What about free stuff? Other privileges?

Once you sign up you will receive SaleHoo alert software, and full access to the SaleHoo Private Members Forum. In the forum, SaleHoo will inform you what suppliers to avoid and to trust. Members freely share their experiences whether it is bad or good. I was surprised to find out that it�s all transparent! (Insulting members, however, are not allowed.) SaleHoo�s competitors are even mentioned and everyone freely discusses their views. You can send private messages to other members, too.

Education and training is also provided for free. You have access on videos and articles so you will be successful in selling on eBay, be informed on what not to sell and finding what to sell, knowing the legitimate and catching illegitimate wholesale suppliers, building an online business, etc.

If you have any problems, there is always a full time or 24/7 live customer support. There is no voice support, however. SaleHoo says, “The cost of offering live voice support would mean an increase to the membership price which we do not want to do.”

Whose side are you on?

Many SaleHoo members are sharing there success stories. They say this is a great site to work with in building an online business; their best investment; and an excellent supplier of information. However, there are also members that are disappointed with what this wholesale directory offers to them. They say SaleHoo tricked them with their marketing campaign; it’s not worth the membership fee; fake products; etc. But SaleHoo says, they don�t have control over the product of these suppliers; they only provide members access to these suppliers; offer thorough evaluation of listed suppliers in their directory; and online assistance to members so that they will be successful in achieving what they want.

Now, we see the three sides of the stories�SaleHoo, satisfied members, and dissatisfied members. Thus, to say that SaleHoo works for you will depend on what products you would like to sell, and on how persistent you are to find the wholesaler, the manufacturer, the dropshipper, or the liquidator that gives you the profit you want.

Even if SaleHoo constantly evaluates all of those that are listed on their directory, and removes those suppliers that are unworthy to be listed, you still have to analyze each of the suppliers that are rated and reviewed to find out the one that works best for you. You still have to do your homework after becoming a member. SaleHoo just provide you information and links to the official websites of these suppliers.

Remember, we differ on our wants and priorities.

My last note is�

I believe SaleHoo can be a good business, but not the one I would want to get into because of the overhead with inventory that may be involved. I prefer to have not any inventory to handle. Although I know, dropshipping may be an option it still seems like too much of a hassle for me. I prefer to just stick with affiliate programs where I just send referrals to the seller�s site.

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Disclosure: The above was a sponsored review, however the review was written to be as honest and un-biased as possible.

Perhaps more than any other family in sitcom land, the Simpsons are an entrepreneurial bunch. Homer sees all situations as potential money-making opportunities, and Bart is following in his footsteps. Homer has gone into business with his father, and his long-lost brother, Herb, was a successful entrepreneur–at least until he met Homer. Even Marge ventured into franchising with a pretzel wagon.

The abbreviated list of the many Simpsons’ ventures includes: selling rides on the elephant Bart won in a contest; selling sugar found in the street after a traffic accident; plowing snow; selling Grandpa’s love tonic; running an internet business, which was bought out by Bill Gates; selling kitchen grease to rendering plants; bootlegging beer during prohibition; offering security services; running a daycare center; and selling tickets to see an unearthed angel fossil.

Biggest Accomplishments: Mr. Plow, until the snow thawed; the daycare center, until Homer was forbidden to see the children and kidnapped a few of them; the grease business, until groundskeeper Willie found out Bart and Homer were taking his “retirement grease”

Success Secret: “If at first you don’t succeed–d’oh!–try again the next time you find some free junk in the road.” –Homer J. Simpson

Biggest Mistakes: “All the ones where I got arrested …or bankrupted …or in trouble with Fat Tony.” –Homer J. Simpson

in-depth look at the traditionally hidden world of private equity. From panels on venture capital and entrepreneurship to leveraged buyouts, to the basics such as liquidation and legal, UPED tackles all the issues in private equity today.

It was a very good conference. I learned a lot, met some pretty cool people, and had some really good meals (including possibly the best steak dinner of my life). A few notable entrepreneurs that were there who either spoke or who I met personally were Tim Westergren, founder of Pandora.com, Paul Ahlstrom, managing director of vSpring Capital, Brian Beutler, Founder of Alianza Communications, Amy Lewis, Founder of Mediconnect, Josh Coates, Founder of Berkeley Data Systems, Bryan Sims, Founder of Brass Media, Jonathan Greenblatt, Founder of Ethos Water, and Ryan Money, Founder of HireVue. A few takaways from the conference:

• Unlike many other professions there is no clear cut path to becoming a Venture Capitalist. It is a varied and crooked path, with may routes to the same end destination.
• A strong social network is critical for business success. Athough few of the speaker mentioned social networking specifically many mentioned how doors of opportunities where opened because of connections they had.
• It is easier to gain market share in tight nit industries where leaders are know each other because when you do a good job with one company they are more likely to talk to others which could land you new clients more easily.
• Venture Capitals want to invest in companies where the entrepreneurs are committed more to their idea than making money, while the VCs themselves care more about just making money.

• In order for a new innovative product or service to be successful it has to be significantly better than its old alternative. Since it takes money and effort to change, even products that are twice as good as the existing one aren’t good enough to be successful. Products must be ten times as good in order to significantly change an industry. These are the kind of products that VCs want to invest in.

All in all the conference was well worth the time and money. It is something I look forward to attending again in the future.

The Junto program is also designed to lead you through a journey of self discovery regarding your true aptitude to be a successful entrepreneur. By working through the content and materials of the program, you will see more clearly your inherent attributes that will contribute to your success as an entrepreneur. And you will also become painfully aware of your limitations which will need to be addressed if you hope to succeed.

The Junto program is designed to emphasize what really matters to your success as an entrepreneur, to help you sort through the “fluff” of starting a business and to clearly understand what activities and strategies will make a difference. As you use the skills taught, you will be able to more effectively prioritize your tasks and your opportunities.

I highly recommend applying if you are a young aspiring entrepreneur in Utah. I participated in 2005 and found it to be well worth my time. I gained a lot of valuable knowledge and experience, and met a lot of amazing people, some of whom have become good friends, and most of whom I still keep in contact with.

I wrote a little bit about my experience in a blog posts a while back, What I Learned in Junto
If you are interested in applying please visit thier website at http://www.juntopartners.com

http://www.paulallen.net/
http://www.garrettsmith.info/
http://www.entrepreneurs-journey.com/
http://brockblake.com/

Carolynn’s business for December is a kiosk at a local mall in Provo, UT, where she is selling bundt cakes, Sign Babies, and Princess Sweet items. Since she has limited herself to only $100 in start-up capital Carolynn has had to be resourceful, such as using a consignment model so she doesn’t have to pay up front or get an investor.

So the question posed in the title of this post remains. Can a Business be Started with Only $100? I believe the answer is Yes. Carolynn has already started the business and I personally think it will be a success.

One thing I remember learning from Greg Warnock, when I was in his Junto Entrepreneurhship Program, was that a lot of money isn’t necessary to start a business. It can help, but it isn’t necessary. When you are on a tight budget you are forced to be creative and leverage the resources you have. Greg taught us that if you have a business idea that you want to pursue you should first try to test the assumptions of why you think your idea will be profitable by going out and selling. Only after you know that your idea will be profitable because you have actually seen a demand for your product first hand should you begin to invest a significant amount of money in the business. It is even possible to make a sale before you have made your product and therefor use your customers to fund your business.

Another interesting aspect of Carlynn’s experiment will be the effect that her Hundred Dollar Business Blog will have on her business. It will be interesting to see how things turn out.