Are you about to start a small business but don’t know how?
Do you have the right kind of investment required for starting a new business but don’t know how?
Want to contact the wholesalers and develop successful relationships with them?
You can do it all, but it will require you to get a deep understanding of how to run a business and most importantly, how to make a good relationship with wholesalers. A wholesaler is a person that sells goods in a large quantity, or bulk items, for a smaller unit price. When it comes to running a small business, it is very important to make good connections with wholesalers. They play a very important role in building up your business and letting you make sales. Here are some tips to keep in mind when developing relationships with wholesalers.
Define your goal and make sure it’s clear
Make sure your goals are clear. The reason is because wholesalers want to estimate of how many products/units you expect to sell in each period. This will help wholesalers provide feedback to manufacturers.
Pay on Time
The key to a solid wholesaler relationship is paying them on time. Wholesalers get frustrated when they aren’t paid on time because they are already selling you goods for a value and it makes it hard to provide such value when they aren’t paid on time. Just like your business, cash flow is very important for them. If they are paid in a timely manner, trust starts to develop between both you and the wholesaler as you become their trusted customer. Remember, trust is the most important thing when building all types of relationships.
Note that they have other customers
It should be kept in mind that wholesalers provide products at a valued price, so they already have plenty of other customers. If your relationship is not a successful one, it can affect their other customers and you might lose a good supplier.
In business, those that work with you are not your allies, they are your partners. Think of wholesalers as your business partners, be friendly with them. It’s human nature that you make friends with those you like, so pay attention to personal information they share, preferred communications, etc. and you will be friends in no time.
Give them training on what you need
Lastly, now that you have a good reputation and relationship with the wholesaler, communication with them and train them on your specific needs and how you work best.
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