I build WordPress that feels like software.

01// Hold new wholesale accounts for review
add_action( 'user_register', function ( $user_id ) {
	update_user_meta( $user_id, 'account_status', 'pending' );
} );
02// Approved buyers only: hide prices and block purchasing
add_filter( 'woocommerce_get_price_html', function ( $html ) {
	return tj_is_approved() ? $html : esc_html__( 'Log in for trade pricing', 'tj' );
} );
add_filter( 'woocommerce_is_purchasable', function ( $purchasable ) {
	return $purchasable && tj_is_approved();
} );
03// Ask for the business details the team needs
add_action( 'woocommerce_register_form', function () {
	echo woocommerce_form_field( 'company_tax_id', [
		'label'    => esc_html__( 'Tax / VAT ID', 'tj' ),
		'required' => true,
		'return'   => true,
	] );
} );
// Not shown: tj_is_approved(), limiting step 01 to wholesale
// sign-ups, validating and saving the field, the admin
// approval screen and notifications.