Fleeced, ripped-off, cheated, conned. We're all afraid of losing money to wholesalers who turn out not to be the real deal. The horror stories can certainly be very off putting - especially to those just getting started. The trick is to spot it and stop it before it's too late!

So what are signs that you're dealing with a crook?

In our experience, there are 6 particular indications that you may not be dealing with a legitimate wholesaler:

* The wholesaler doesn't sound business-like or professional when answering the phone. For example, he will answer with a plain 'Yes?' or 'Hello?', without identifying himself or the business name.* The wholesaler doesn't request your business license or sales tax ID during the initial contacts. Most true wholesalers will require one of these. While this is not a hugely important deal, if you are looking at dealing in large amounts you will need to get registered and should check that the wholesaler is registered as well.* The whRead more...Link