When it comes to selling online, you want to take every precaution necessary. So does SaleHoo deliver the extra precaution or is SaleHoo a scam?
Product Name: SaleHoo
Owner(s): Simon Slade & Mark Ling
Advertised Price: $67 annually
What is it?
If you’re in the selling of physical products business online, you’re most likely very familiar with the process of looking for suppliers for new products.
But there always comes a time where you can’t find the product you’re looking for on your usual wholesaler platform and you’re left browsing these unfamiliar wholesale sites.
You do your research and pray to god they’re legit, and hope you weren’t just scammed out of a few thousand dollars.
This is what SaleHoo lives on, they’re essentially an online directory for wholesalers, manufacturers, and drop shippers that have gone through the verification process.
Basically it’s a collection of sites that won’t take your money and run the other way.
Now that we are a little more familiar with SaleHoo, lets get into it.| Short Review
Before I get into things let me just clarify that SaleHoo IS a legitimate company.
They have over 100,00+ members to date as of 2015, and have over 8,000+ verified suppliers listed overall.
So they’re legitimacy isn’t something to question here, but how great are these companies they list?
Since profit margins are HUGE with selling physical products, finding a quality product for a low price is ideal to running a successful business.
Lower the price = Higher the profit (simple!)
About This Online Directory
I’ve read from numerous accounts online that SaleHoo’s quotes for what products are selling compared to the actual selling point are far off.
They’re suppliers they have listed have tremendously small profit margins leaving you almost no room for essential things such as:
- Marketing (ad-words, ppc campaigns, etc.)
All the things that make a successful business what it is and you’re left with no money to make it happen!
Check out what other people had to say about SaleHoo here.
I find it hard to judge an ENTIRE company based off a few products that might have had some slim margins, but I’ll just state the facts and leave that for you to decide.
Here’s a few examples of SaleHoo’s potential profit margins with some of their products listed on their platform.
Along with having a large selection of products, SaleHoo offers everything you would expect an online wholesaler to provide, information such as minimum order quantities (MOQ’s), price points, shipping time-frames, etc.
Can You Make A Profit?
With the wright amount of knowledge and research done prior to your purchase, with a decent marketing plan laid out, I don’t see how you couldn’t turn a profit.
It’s important to remember there might be additional drop shipping fees some suppliers may charge, so always take that into consideration when making your choice.
SaleHoo offers two different services, one being a wholesale directory and the other an online store builder, with each having it’s own recurring membership fee:
- Wholesale Directory- Online directory that features 1.6 million products, from over 8,000+ verified suppliers for $67 a year. (a little under $6 a month)
- Online Store Builder- Gives you the ability to create your own online store (access to directory not included) and can range anywhere from $27 a month to $97 a month recurring payments, depending on the store being built.
All in all you’re paying for convenience and security with SaleHoo, as far as the whole profit margin crisis goes, if you have some experience in selling online you shouldn’t have a problem.
You can always find free services such as Alibaba, Global Sources, Made In China, the list goes on for free with thousands of established suppliers.
But like I said earlier you wouldn’t have that little “security blanket” you would have with SaleHoo when it comes to working with unfamiliar suppliers, so the choice to carry on with them is entirely up to you.
Overall they are a solid company who have an established name who look like they aren’t going anywhere soon, hopefully putting to rest is SaleHoo a scam or not.
Anything outside of the slim profit margins in some cases I couldn’t find anything else rather negative about SaleHoo.
Besides they typical “it doesn’t work” on people who lost money, but had no idea what they were doing and expected SaleHoo to do all the work for them.
If you’re someone that holds security at high regard, it might be worth giving it a quick look into, but outside of that I don’t really see it benefiting you in any other way than that.
Before You Go…
You’re clearly here because 1 of 2 reasons:
- You’re looking for ways to make money online.
- You’re trying to get your foot in the physical products business.
The thing with both these reasons is there is some risk involved when venturing online…
I mean look around at all the sites I’ve gone through, scams are EVERYWHERE! They tend to keep me busy.
So if you’re looking for a legit way to make money online, give my Wealthy Affiliate Review a quick read.
They gave me all the tools and training I needed to take me from a broke college student to the full time business owner I am today!
Just give the banner below or the link above in blue a click and you can see if it’s right for you, it’s free to start up and might just be the solution you are looking for.
If you have any questions that need answering or have our own Salehoo scam review you would like to share, feel free to comment in the comment section below. I would love to hear from you!
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