17 External Wholesaler Interview Questions and Answers

An external wholesaler is responsible for generating sales of investment products, such as mutual funds, annuities, and insurance products, to financial advisors and other investment professionals.

If you’re looking for a job as an external wholesaler, you can expect to be asked a variety of questions in your job interview. These questions will assess your knowledge of investment products, your ability to generate sales, and your experience working with financial advisors.

To help you prepare, we’ve compiled a list of sample external wholesaler interview questions and answers.

Are you familiar with the wholesale industry?

This question is an opportunity to show your interviewer that you have the experience and knowledge necessary for this role. Use examples from your past job or education to explain how you understand the industry and what it takes to succeed in a wholesale position.

Example: “I’ve been working as an external wholesaler for five years now, so I am very familiar with the industry. In my last position, I worked directly with vendors to find new customers for their products. This required me to research different industries and companies to determine which ones would be interested in our company’s products. It also meant communicating with clients about pricing and delivery options.”

What are some of the most important skills for a successful external wholesaler?

This question is an opportunity to show the interviewer that you have the skills and abilities needed for this role. You can answer this question by listing some of your own skills, but also by describing what makes them important in this position.

Example: “I think one of the most important skills for a successful external wholesaler is communication. This job requires me to communicate with many different people, including my clients, other employees and vendors. I am very good at communicating clearly and concisely, which helps me get my point across while still being respectful. Another skill that’s important for this role is problem-solving. External wholesalers often encounter challenges when working with their clients or vendors, so it’s important to be able to solve these problems quickly and efficiently.”

How would you describe your negotiation skills?

This question can help the interviewer assess your ability to negotiate with clients and suppliers. Use examples from past experiences where you successfully negotiated a contract or price for your company.

Example: “I have strong negotiation skills, which I developed through my previous role as an external wholesaler. In this position, I was responsible for negotiating contracts with new suppliers and maintaining existing supplier relationships. My success in these roles came from my ability to communicate effectively with both parties. I would first listen to their needs and concerns before presenting our business’s requirements. This helped me build trust with many of our suppliers, which led to more favorable terms.”

What is your experience with working with suppliers?

This question can help the interviewer determine your experience with working with suppliers and how you might fit into their company. Use examples from previous jobs to explain what you did, how it helped your team and why it was important.

Example: “In my last role as an external wholesaler, I worked directly with suppliers to find new products that would be beneficial for our customers. This included researching different companies and finding out more about their products. I also communicated with the supplier to make sure they understood our needs and expectations. In the end, we found a great product that met our customer’s needs and increased sales in our department.”

Provide an example of a time when you had to deal with a difficult customer.

This question can help the interviewer determine how you handle conflict and whether you have any experience in customer service. Use examples from your previous job to highlight your problem-solving skills, communication skills and ability to work under pressure.

Example: “In my last role as an external wholesaler, I had a client who was very demanding. They would call me several times a day with questions about their orders and often complained that we weren’t fulfilling their needs fast enough. I tried to be patient with them but eventually told them they needed to give us more time to fulfill their order. After this conversation, they were much more understanding of our process.”

If we were to visit your warehouse, what would we see?

This question is a way for the interviewer to assess your organizational skills and how you keep track of inventory. Your answer should include details about what’s in your warehouse, including any special features or processes that help you manage inventory.

Example: “In my last role as an external wholesaler, I had a large warehouse with many shelves where we stored our products. We kept all of our inventory organized by product type, which made it easy to find what we needed when customers placed orders. We also used color-coded labels on each shelf so we could quickly locate items based on their location.”

What would you do if you received a shipment of products, but they were damaged or defective?

This question can help the interviewer assess your problem-solving skills and ability to make decisions. Use examples from previous experience where you had to evaluate a shipment of products, determine what was damaged or defective and how you handled it.

Example: “In my last role as an external wholesaler, I received a shipment of 500 boxes of pens that were supposed to be blue but instead were red. When I opened the first box, I noticed that all of the pens were red. I immediately contacted the supplier who said they would send another shipment right away. However, because we needed the pens for our next event, I decided to open all of the boxes and sort through them by color. It took me two days to sort through all of the boxes, but I was able to find enough blue pens to meet our needs.”

How well do you manage your time and prioritize your tasks?

Time management is an important skill for external wholesalers to have. They need to be able to manage their time well so they can meet deadlines and complete tasks in a timely manner. When you answer this question, explain how you plan your day and prioritize your tasks.

Example: “I use my calendar as a way to keep track of all of my appointments and meetings. I also set reminders on my phone so that I don’t forget any important dates or times. In addition to using my calendar, I also make lists of the things I need to do each week. This helps me stay organized and ensures that I am completing my most important tasks first.”

Do you have experience using inventory management systems?

External wholesalers often use inventory management systems to track their products and sales. The interviewer may ask this question to learn about your experience with these types of software programs. In your answer, share which inventory management system you’ve used in the past and what you liked or disliked about it. You can also mention any specific skills you have that make using an inventory management system easier for you.

Example: “I’ve worked with several different inventory management systems throughout my career. I find that I’m most comfortable working with a cloud-based system because I can access it from anywhere as long as I have internet access. My previous employer used a cloud-based system, so I was able to learn how to use it quickly. I found that I really enjoy learning new software programs and figuring out how they work.”

When negotiating prices with a supplier, what factors do you consider?

This question can help the interviewer understand how you approach a task that is important to their role. Use your answer to highlight your negotiation skills and ability to make decisions under pressure.

Example: “I consider several factors when negotiating prices with suppliers, including the quality of the product or service they provide, the quantity I need and my company’s budget. I also look at what other companies are paying for similar products or services and try to get the best price possible while still maintaining a good relationship with the supplier. If I am able to negotiate a lower price, I will let them know so they can adjust their pricing structure accordingly.”

We want to increase our sales volume. What marketing strategies would you implement to achieve this goal?

External wholesalers are responsible for increasing sales volume. Employers ask this question to see if you have experience with marketing strategies that increase sales. In your answer, explain two or three ways you would market the company’s products and services to new customers. Show them that you know how to use social media, email marketing and other digital tools to reach more people.

Example: “I would implement a few different marketing strategies to help us achieve our goal of increasing sales volume. First, I would create an email marketing campaign using MailChimp. This is a free tool that allows me to send targeted emails to specific audiences based on their interests. For example, I could send one email to all previous customers who haven’t purchased in six months. Another email could go to everyone who has never ordered from us before.

Another strategy I would use is social media advertising. Facebook and Instagram ads allow me to target users by age, gender, location and interests. I can also choose which type of ad they see, such as video, photo or text. These ads are very affordable, so I think it would be beneficial to invest in them.”

Describe your process for evaluating new suppliers and deciding whether or not to do business with them.

This question is an opportunity to show your interviewer that you have the skills and experience necessary to make important decisions about who you do business with. Use examples from previous experiences in which you evaluated suppliers and decided whether or not to work with them.

Example: “I start by researching their company online, including checking out their website and social media accounts. I also look at reviews of the company on third-party websites like Yelp and Google Reviews. If they seem reputable, I then check out their products and services to see if they’re something my customers would be interested in purchasing. After all this research, I decide whether or not to pursue a relationship with the supplier based on how well their company seems to fit into our current portfolio.”

What makes you stand out from other external wholesalers?

Employers ask this question to learn more about your qualifications and how you can contribute to their company. In your answer, share a few of your strongest skills or experiences that relate to the job description. You may also include any certifications you have earned.

Example: “I am highly organized and detail-oriented, which makes me an excellent candidate for this role. I understand the importance of keeping accurate records and reports, so I would be able to maintain all of our inventory and sales data accurately. Another reason why I think I’m a good fit is my experience working with large clients. Throughout my career, I’ve gained valuable knowledge on how to work with different types of people and manage multiple projects at once.”

Which industries do you have the most experience working in?

This question can help the interviewer determine if your experience aligns with their company’s industry. Use this opportunity to highlight any relevant skills you have that would be beneficial in this role.

Example: “I’ve worked primarily in the healthcare industry, but I also have some experience working in the education sector. In my current position as an external wholesaler for a pharmaceutical company, I helped educate doctors on new medications and how they could best treat patients. This experience has given me valuable insight into what information is most important to relay to customers and how to effectively communicate it.”

What do you think is the most important aspect of customer service in the wholesale industry?

This question is an opportunity to show your knowledge of the industry and how you can provide excellent customer service. You can answer this question by explaining what you think is most important about customer service in general, but also highlight a specific aspect of customer service that you feel is especially important for wholesalers.

Example: “I believe that communication is the most important part of providing good customer service. When I worked as a sales representative at my previous company, I noticed that many customers would call or email us with questions about our products. In these situations, it was my job to respond to them quickly and clearly so they could understand our product offerings. If I had not responded to their questions promptly, they may have gone elsewhere to find answers.”

How often do you perform inventory checks?

External wholesalers are responsible for keeping track of their company’s inventory. This includes checking the current stock levels and ordering more products when necessary. Interviewers ask this question to make sure you have experience with performing these tasks. In your answer, explain how often you performed inventory checks in your previous role. Explain that you will continue to perform regular checks if hired by this company.

Example: “I check my company’s inventory at least once a week. I use software to help me keep track of our stock levels. If we run out of any items, I place an order right away so we can restock before customers start placing orders. As an external wholesaler, it is important to stay on top of our inventory levels. It helps us avoid running out of certain products.”

There is a new law that impacts the products you sell. What would you do to ensure that you comply with the law?

An interviewer may ask this question to assess your ability to stay up-to-date on current laws and regulations. This can be important for an external wholesaler, as you may need to know the legal requirements of selling certain products in a specific state or country. In your answer, try to show that you are committed to following all applicable laws and regulations.

Example: “I am always committed to complying with any new laws and regulations that impact my work. If I were presented with a situation where there was a new law that impacted the products I sell, I would first research the law to understand what it required. Then, I would make sure that our company complied with the law by updating our policies and procedures.”