Picking the right supplier is important to the growth of a business. Often overlooked, the right supplier can help entrepreneurs turn prospects into profits.
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Below are three considerations when searching for a supplier:
- Suppliers can be classified into four general categories: (1) manufacturers (2) distributors (3) independent craftspeople, and (4) import sources. Generally, surpassing manufacturers and distributors can help business buy raw materials at a more affordable price.
- Source locally. To avoid freight, shipping, or other delivery costs, try to find local suppliers for the same goods. For those searching on the Internet, narrow the search by phrasing keywords based on location. For example, for wholesale boxes in New York, key in “wholesale boxes New York” or “wholesale boxes NYC.”
- Another way to find the best suppliers is to attend trade shows. These shows, which are typically industry-specific, provide goods at competitive prices, especially for wholesale dealings.
Finally, once you find a supplier, make sure to establish a good relationship. This will allow you to grab more discounts and access to products exclusive to your type of business.
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Impressive article. Choosing the right supplier involves much more than scanning a series of price lists.
ReplyDeleteGood point. If you don't make selecting best suppliers and vendors a part of your business plan, you're likely to regret it.
ReplyDelete