Finding a new wholesale supplier can be exciting, especially when you see brands you recognize at prices that look like they could leave plenty of room for profit. But a good-looking website and a few familiar brand names don't necessarily tell you what you're actually buying.

Before placing an order with a supplier you haven't used before, slow down long enough to answer a few questions. Some of these may seem obvious, but they're much easier to ask before you've spent the money.

1. What condition is the merchandise actually in?

Start here, because terms like wholesale, liquidation and overstock are often used pretty loosely.

Is the merchandise brand new? New with tags? Shelf pulls? Customer returns? Is there damaged or salvage merchandise mixed in?

If the description isn't clear, don't assume that a low price means you've found a great deal. The condition of the inventory has a huge effect on what you'll ultimately be able to sell it for.

2. Will I know what I'm getting?

Some suppliers provide a detailed manifest showing what's included in a lot. Others provide only general information, such as the brands or types of merchandise you might receive. And then there are true mystery lots where you won't know much at all until the boxes arrive.

None of those buying methods is necessarily right or wrong. They just involve different levels of risk.

If a manifest is available, look beyond the total "retail value." Pay attention to the actual brands, sizes, quantities and types of merchandise included. A lot can have an impressive retail value on paper and still contain inventory that's difficult to resell.

3. Are those pictures of the actual merchandise?

This is an easy detail to miss.

A beautiful photo filled with desirable brands doesn't necessarily mean those are the exact items being shipped to you. Read the listing carefully to see whether the photos show the actual lot or are representative examples of the inventory the supplier carries.

Words like assorted, sample, representative and items may vary deserve your attention.

4. Can I start small?

I'm a big believer in testing a new source before making a major investment whenever that's possible.

Check for minimum order requirements. Some suppliers sell individual cases or smaller lots, while others may require a minimum dollar purchase or an entire pallet.

A smaller first order gives you an opportunity to see the merchandise for yourself. You also get to find out what the supplier is like to work with—how quickly they ship, how accurately they describe their inventory and how they handle questions or problems.

That's information you can't always get from a website.

5. What is this really going to cost after shipping?

This one can completely change the math.

A lot that looks inexpensive at first can become considerably less attractive once shipping or freight is added. Before you buy, find out whether shipping is included, calculated at checkout or quoted separately.

If you're buying pallets, don't underestimate freight costs.

I prefer to think in terms of landed cost—what the inventory actually cost by the time it reached me—not simply the price shown on the supplier's website.

6. What happens if something goes wrong?

Wholesale buying isn't the same as ordering a sweater from a department store and sending it back because you don't like it.

Some wholesale and liquidation purchases may be final sale. Others have very specific procedures for reporting shortages, damage or merchandise that doesn't match the description.

Find the supplier's policy before you order. How long do you have to report a problem? Do they require photographs? What happens if items are missing?

You may never need to file a claim, but the time to learn the rules isn't after there's a problem.

7. Am I allowed to sell this merchandise where I sell?

If you primarily sell on eBay, Poshmark, Amazon, Mercari or another marketplace, check whether there are any resale restrictions attached to the merchandise.

Don't assume that purchasing something wholesale automatically gives you permission to sell it everywhere. Certain brands, suppliers or programs may have marketplace restrictions.

If you're buying inventory specifically for one selling platform, this is worth confirming first.

8. What can I find out about the supplier away from its own website?

Every business looks good on its own website.

Do a little digging elsewhere. Look for a real business address and working contact information. Search for independent reviews and reseller discussions. See how long the business appears to have been operating.

I wouldn't automatically reject a supplier because of a few negative reviews. Any company doing enough business is eventually going to have unhappy customers. I'm much more interested in patterns.

If reseller after reseller reports the same problem—merchandise condition, missing inventory, shipping issues or difficulty getting a response—that's something I'd pay attention to.

9. Would I actually want this inventory if it weren't so cheap?

This may be my favorite question on the list.

It's very easy to get excited about the cost per piece and forget that eventually somebody has to buy the merchandise from you.

Would these brands sell in your store? Are the sizes desirable? Are the styles current enough for your customer? What are comparable items actually selling for, rather than what other resellers are asking for them?

A $5 item isn't a bargain if it sits in your closet for two years.

Sometimes walking away from inexpensive inventory is the better sourcing decision.

10. What will my cost be per sellable item?

Notice I didn't say cost per item.

If you spend $500 on 100 pieces, it looks like your cost is $5 each. But what if 10 pieces are damaged, another 10 aren't worth listing and several more are styles you realistically don't expect to sell?

Add in shipping, too.

Suddenly your actual cost per useful piece of inventory looks very different.

This is especially important with liquidation and assorted lots. The supplier's piece count and advertised retail value may be accurate, but neither one tells you what your profit will be.

There Isn't One "Best" Wholesale Supplier

One reseller may have a great experience with a supplier that doesn't make sense at all for someone else's business.

Your selling platforms, budget, storage space, preferred brands, average selling price and tolerance for risk all matter. Even the amount of time you're willing to spend sorting, cleaning or researching inventory can make one source a better fit than another.

You can't eliminate all the risk from buying inventory. But you can understand what you're buying—and who you're buying it from—before putting your money into it.

If you're ready to research some options, the BOLO Monday Wholesale Supplier Directory includes wholesale, liquidation and bulk inventory sources, along with information to help you compare them before you buy.