So you’re an entrepreneur and have a great business idea, but do you decide on who to pick to supply you? Suppliers are essential for retail businesses and depending on your inventory and items you have selected, and you may need more than one supplier to fulfill your needs. More often than not, before you meet your supplier face to face, you’ll meet their sales representative first. In particular, they will note that you’re starting out as an entrepreneur, so you’ll be looked upon to give them certainty first of all.
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The right manufacturers and distributors
Finding the most suitable manufacturer for your product and business is a tricky balance to manage, but can overall boost your image. Most companies have a sales departments which will handle your requests. These people will deal with your cost, quantity, manufacturing cost, shipping expense and your future needs. The most crucial action you as an entrepreneur can take at this stage is to make sure that the products you’re buying are up to your standards. Choosing a manufacturer that has a product that performs a specific function, important to your services to your customers is imperative. Companies that give you the most information about their functionality and quality control standards for their products such as the Bag-on-Valve, should be trusted more than most.
Distributors can sometimes be seen as the rag-tag bunch. There are many routes you can take for finding the wholesaler; it all depends on their service capabilities. Factor in their guarantees with their price for their services. Some distributors are higher priced, but check the reasoning behind that you may find it’s because they have a good reputation and possibly willing to cover any costs should your products not get to retail on time or are lost. Distance plays an often overlooked role in picking the right method. You’ll receive a lower freight bill and a quicker delivery time with an independent distributor that is nearby, rather than a large corporate company for the same service. Evaluate the cost per item and calculate whether it would be better to ship in bulk or in sections. Buying in bulk is more of an investment because, after purchase, it’s up to you to make that money back by making sure all the stock is sold. However, buying in smaller numbers is more expensive but the safer option.
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Importing your wares
If you’ve spotted a great product from a source outside the country, it’s still got to get into the country and be shipped to you. The internet is a great way to communicate with a potential supplier abroad, but sometimes a face to face meeting is better; after all, you’re putting faith in a company that isn’t inside the same rules and regulation your business is operating in. Initially, you could ask for advice or correspondence with the embassy or government trading standards in the importer’s country to research about their local reputation. Lastly, before signing anything, order a sample of their product and identify suppliers that are willing to haul freight from ports and various shoreline towns. The overall distance of travel will affect costs greatly, so calculate every step of the process.