GLOVE LOVE… SELLING GLOVES WHAT YOU NEED TO KNOW BEFORE YOU GO ALL IN
I wanted to take the time to thank the thousands of you that have reviewed my articles over the last few months. To date, we have over 10,000 views and counting. I am sure your wondering why I titled the article “Glove Love”, basically its because we are aware that many of you have been screwed in this industry we are not talking about that kind of rubbers, we are talking about nitrile gloves. LOL. If you are a serious qualified buyer looking for realistic quantities 100M to 1B range of Gloves click here to reach out to us we can help. SERIOUS INQUIRIES ONLY!
Ok Time for you to get your mind out of the gutter
How Could Something So Simple become so Hard “no pun intended”
So you want to buy some Nitrile gloves, sounds easy right, wrong. For many this task has become a literal nightmare. What started out as such a simple task just to buy say 100k boxes of gloves or even 100M+ boxes of gloves has turned into a disaster of epic proportion.
Ask yourself this question, why did a product that was readily available and easy to purchase prior to the Plandemic, I mean pandemic 😉 has become so difficult to acquire?
The primary reason for this is just pure Greed! You see, many of us started out in the PPE space between Feb and now with good intentions to help those in need. Soon this turned into a major way for a select few to make serious money. I am the first to say that I know people that have made 6, 7 and even 10 figures in this industry within the last 8 months or less. No joke. Note: this is not the norm by any stretch of the imagination.
I had to share this comment from my friend and business partner Dan: 10/4/2020
“Excellent article Adam. Arm Chair Cowboy Brokers dream of Gulf stream Jets and Lamborghini ‘s. Then squabble over pennies worth millions to billions, kill deals. Astounding in itself, yet it often goes up the chain to greedy mandates, attorneys, buyers and sellers. We’ve seen it all. The ultimate goal is lost and forgotten, these Masks and Gloves belong on the hands and faces of Front line Emergency Personnel. Greed gets in the way of saving lives. We’re fortunate to have a solid team after 8 months of experiencing the facts in your writing. Great to meet and work with you toward draining this swamp and saving lives.”
One Hundred Million I mean One Billion Dollars LMAO
With the possibility of earning millions or even billions of dollars for just a few phone calls has turned many people from multiple professions into instant Glove experts.
“Not So much”
So why sell GLOVES? Its easy, you make MO MONEY than selling MASK. Lets look at the numbers for second, we love to do that. Below Compare 100M boxes of Gloves to 100M 3M 1860 mask and the comparison at a 10% commissions.
Avg price for a 100ct Box of gloves $9.00
+10% commissions 90 cents x 100M Total commissions = $90,000,000.00
Avg price per 1860 Mask $2.00
+ 10% commissions 20 cents x 100M Total Commissions = $20,000,000.00
It does not take a rocket scientist to realize that it takes the same time to process 100M Gloves as it does 100M masks, however can make 4x the commissions with the gloves.
The market is flooded with the Cardinal 200ct glove boxes and most recently the Cranberry 300ct due to economy of scale has lowered the price per 100 unit.
What does 500M Cranberries
OTG look like
Seriously everyone wants the Cranberry Evolve 300ct gloves now because as soon as 3M got involved in Cardinal it became a complete shit show. Can I get an AMEN..
Now that I have your attention
I want you to stop and think for a moment, what profession can you get involved in with less than a few months of experience and make this kind of money?
Answer: None, it does not exist.
So now that you decided to get into this crazy wild wild west of selling gloves. Tray’s tables and seats in a upright and lock position its about to be a bumpy ride and we are going to be experiencing some serious turbulence. Ok, here is the good the bad and the ugly about GLOVE LOVE.
Now that you have been shook up a bit, pull your self together “SLAP ” lol
We can talk about the good in basically two points:
YOU CAN HELP PEOPLE
YOU CAN MAKE SERIOUS MONEY.
Now the bad; countless hours on the phone in front of the computer every waking hour your not working at your job “if your lucky enough to still have one” or your sleeping. Many of you have neglected your family and friends focused on making the money that will set you up for life. Here is the ugly truth, many will go months and never close a large deal.
When I say large deal what I mean is a deal that you could quit your job, or even never work a day again the rest of your life, provided you didn’t squander the money away of course. Think of this like a PPE gold rush, you need to realize that it will be short lived maybe about 2yr window which we are almost through the first year of this.
The lure of making this kind of money brings out the ugly in many brokers who spend more time counting the money they have not made yet, then focusing on closing the deal.
This is the part where you are not going to be happy with me
My advice, don’t get started while you still have your sanity and your family. Now that being said, if you are already involved then understand you need to have tough skin and work relentlessly to land either OTG on the ground lots or production lots.
Lets first talk about OTG. This is like a the unicorn your in search of and so is everyone else , the minute the unicorn is confirmed authentic its snatched up. The same applies to verified authenticated product on the ground. Verified product, what does that mean exactly well its pretty basic, either the buyer provides you with an SGS report that you can confirm with SGS that matches the title holder or you physically inspect the product yourself.
The elusive LOA ” Letter Of Attestation” many buyers now a days are asking for LOA in regards to the ownership of the product this is where we start to see a breakdown. Its like chicken or the egg. The buyers don’t want to show proof of funds or can’t show proof of funds until they see proof of product. The sellers don’t want to show proof of product or can’t allow inspection until they have proof of funds.
What we have seen most recently is that the mandate or company representing either side is putting their attorney in the middle to attest to the funds and the product. The bottom line, if you want to have a deal done there has to be a relationship you can reference with previous performance/ track record and most importantly both the buyer and the seller have to have custody control and owner ship of the product and/or funds to purchase. This means that the name on the PO needs to match the proof of funds.
The ultimate goal is to go A2A, attorney to attorney so the POF/POL “Proof of Funds / Proof of Life” can be confirmed and they can move to a close. Once the POF/POL has been established, then its just a mater of contracts, escrow and/or inspect and pay to close. At which point all brokers should be paid, this is assuming that you were not cut out of the deal.
With all the offers you see on a daily basis in the M’s , B’s, T’s and even now you see Q’s, there would never be enough gloves produced as long as we are all alive. Check out my article on Visualization of gloves on the ground. Ok, let me break this down even more, there are OTG lots that are realistic and ones that are what are called futures where a percentage is on the ground and the rest have been produced yet. You see by the time you actually picked up the first part of the order the future product has already been produced and delivered to fulfill the rest of the order. This is typical for large M, B and T lots.
You need to have realistic expectations when selling gloves.
If your lucky enough to close a nice size lot between 1M to 100M is a great range for selling gloves, you may the opportunity to experience GLOVE LOVE first hand.
So what is GLOVE LOVE, well its a warm soft feeling you get when you surround your self with comfort of knowing you earned enough money to set yourself up for life by helping people. Plus its confirmation that all your time and efforts finally pays off. I wish this for all of you that decide to get involved in this space but I promise its not for everyone.
NOW FOR THE STUFF THAT NO ONE TELLS YOU ABOUT.
What you will most likely encounter when you get involved this industry.
These are all the negative situations you need to try to avoid.
Greedy Brokers and broker chains, will drain your energy, block you from the real source and drive you crazy arguing about commissions that they most likely are not entitled to. The chain gang, football team all have their role but like in any good team there is a quarterback and MVP that helps to win the games. Some of them just need to stay on the bench as the coach does not see the value for that particular play and for the record the bench warmers otherwise known as “arm chair cowboys” don’t make as much as the key players. Although everyone has value, you need to show your value through your knowledge, professionalism and relationship to buyer, seller and or direct mandates/ direct reps. I have the job sometimes of putting all the clowns back in the clown car and get the deal closed.
- Circumvention, these are the worst. Sometimes its the buyers and the sellers, once in a while its an attorney but many times its brokers. What happens is self explanatory, you get cut out of the deal as if you were never involved at all.
- Buyer Fishing attempts, some brokers will flash these incredible prices and procedures just to get you to bring a buyer to the table and for you to find out that the lot was sold and you did not get your paperwork in fast enough. Once they have your buyer or seller info they will just find alternative places to sell it where there is not a broker chain involved.
- Arbitrage; many times buyer’s don’t have the money in their company name or its someone else that is financing the transaction, this goes for the sellers as well. Simply put, arbitrage is when you attempt to illegally increase the cost of the product and pretend to be the end buyer but in actuality your using the exit buyers money in order for you to earn more money. There is legal ways to do this with assignment and procurement agreements in place, however this needs to be explained to both the buyer and seller prior to entering into the transaction.
- Last but not least, unauthorized price increase by brokers. This happens all the time, the deal may have had 10% commission included by the seller however the broker sends it to you and says there is only 50 cents commissions because out of the $1.50 they just though its ok to keep a dollar. Always ask “what is the floor price before any commissions” this is typically provided by the seller. Many people ask how do you break down commissions well there is typically two main ways 50% SELL-SIDE 50% BUY-SIDE, more commonly you see 1/3 SELL-SIDE 1/3 INTERMEDIARY 1/3 BUY-SIDE and many times that INTERMEDIARY 1/3 is broken down into 50/50. This is the main IMFPA “Irrevocable Master Fee Protection Agreement” all the brokers and chains of people typically end up in a sub-fee agreement which references the main agreement and delineates how the parties are to divide up and get paid out of the fee’s. Many times if you just made the connection and don’t provide any value to the transaction you may be entitled to a referral fee which can typically range between 5 to 10% of what your direct contact was paid, this is the discretion of the broker on the sub-fee.
The second way to purchase gloves is from production contracts. These contracts are normally 6 to 12 months and can be as little as 100k boxes a week to as much as 500M plus boxes per week. Normally there is a letter of credit or escrow that is in place while the product is being produced and shipped prior to the exit buyer purchasing the product when its lands OTG. Note, this product will be significantly cheaper to buy prior to landing OTG at which point the price increases substantially.
I hope you found this article informative. If this resonated with you feel free to reach out to us for advice on how to procure OTG product and production. We have vetted sources that we can assist, but only for SERIOUS inquires.
In closing, weather you have been burned by bad actors, ghost product, fake distributors or just wasted time on endless calls with no outcome. Feel free to reach out to us if you are a qualified Buyer and want to have call.