If you are in the retail industry, or looking to start a retail/service business, it’s crucial to understand the importance of forming relationships with wholesalers. In the U.S. there are approximately 300,000 wholesale distributers to choose from. Finding a wholesaler who caters to your needs and is willing to form a mutually beneficial relationship takes time and research.
Here are 3 tips that will help you find the best wholesale distributor for your business:
With so many wholesalers spread out around the country, chances are there are at least a couple in your area. Local wholesalers will have a more intimate knowledge of retail and consumer needs in the area and will be able to identify and help you achieve your place in the market. They also may be more inclined to form a cooperative relationship with a fellow local, which could lead to potential benefits.
Know what to ask
You should be prepared to ask a string of questions that will help the two of you identify whether this wholesaler is equipped and prepared to help you achieve your goals. You should ask them about minimum and orders, unit pricing, turnaround times, return policies and whether or not they offer competitive pricing, as well as some industry specific questions that will determine whether they understand your company’s needs
Never Stop Networking
Thanks to the internet, finding lists of wholesalers has never been easier. However, you can never underestimate the value of a handshake and a smile. Join forums and threads that link wholesalers and retailers, but also look for brand manufacturers to talk to. Attend every trade show you can make it to and pick up every trade magazine. Always have your card on your and follow up on every potential lead. Hard work pays off in this industry.