Hi Carmelina,
Always happy to help where I can, but you sound pretty switched on to me.
Any business has a degree of risk attached to it, and the more you invest, the bigger the risk...however that risk is always balanced by the potential reward of course.
Not really sure what to suggest as far a products go, maybe some other members would have a better idea, but if you have the capitol behind you, then you are in a better position than a lot of members here who are trying to crack a very competitive market with a budget somewhat less than a shoe string.
I would suggest looking at products that you have an interest in, that would mean that you would have product knowledge base that you can build on.
You're already in business, so you will already have the business basics down , and it's easy to see you understand the market well by your volume purchasing plan.
Seems to me that you just need to research some products, then find the supplier.
My advice about sourcing products here in Australia, forget the online directory here, and anywhere else for that matter. Online business business is growing, but it still makes up only a minor percentage of the total business done around the world everyday.
Hit some new year trade shows if you can, there you can get in on the latest products, and make some good solid contacts.
The Yellow Pages is an excellent source for finding product leads, and never be shy to ask retailers who their supplier is, for everyone that won't tell you, two will.
Another tip, never accept the first wholesale price you are given. Once they see the colour of your cash that first price can change dramatically.
Good luck with it, and welcome to the site.