5 Tips For Choosing a Wholesale Supplier
Whether you are purchasing items to resell to your customers, put together a product, or looking for vendors who can provide you with frequently purchased items you need to run your business, finding good wholesale suppliers who deliver as promised is vital for the financial health of your operation. There is no shortage of vendors, so the task becomes finding the right ones for your needs. Here are some tips to help you do just that.
Get Crystal Clear on Exactly What You Need
If you are unclear on what your exact requirements and needs are, you increase your chances of picking the wrong supplier , which can do lasting damage to your business. What products do you need exactly? What standards do your customers expect? What are your expectations for your suppliers? Answering these types of questions will help you focus in on the best suppliers for your business needs.
Where to Start Your Search
When looking for wholesale suppliers, there are many avenues at your disposal that can help you build your list of potential vendors. Try contacting the manufacturer of the product you are looking to purchase first—they sometimes will sell directly, depending on the volume of the order. If not, they may be able to provide you with a list of recommended wholesale suppliers that handle the type of volume you are looking for. Trade shows are also a good place to meet potential vendors; subscribe to magazines in your industry—they are filled with advertisements from retailers who are looking for your business—the back sections usually have a section just for vendor advertisements. The internet is also your friend—to find local suppliers, it is a good idea to search by the product and information specific to your location, such as city, state or zip code.
Look at Total Cost
Naturally, when running a business, you are looking to maximize profits and minimize expenses; but, automatically going with the lowest priced vendor can come back to bite you in numerous ways. When evaluating potential suppliers, it is important to consider overall cost of choosing this vendor and not just what they are charging you for the products. You need to consider quality and level of service; you also want to carefully evaluate thing such as whether or not going with a lower-cost product will require you to make modifications or changes that will end up costing you more money in the long run.
Visit the Site if Possible
Whether you are looking for someone to give you plastic bags wholesale to handle your company’s garbage, or provide you with high-end goods that you will sell directly to your customers, it is a good idea to visit the site of your supplier. This can give you a good idea of how they operate, what their management is like and can just give you more overall knowledge of the company.
It Can Take Some Trial and Error
One last thing to consider is the fact that the first suppliers you choose may not be the ones you stick for the rest of your days in business—it can take trial and error to perfect the supply chain. So, you may make a mistake, but it is nothing that cannot ultimately be remedied.