How To Start Your Own Business. Part 14
Thinking of starting a business, but not sure what you need to know? Begin your journey here with my basic guide to business start-ups. In my role as Editor for The Business Show and Business Startup, I have talked with literally thousands of business owners and entrepreneurs about what they really need to know, not what a business guru thinks they need to know. This series is the result. Today’s blog looks at suppliers.
If you want to sell products, then you will need to find a supplier or wholesaler. Reliability and speed of service are as important as a good price – the best price in the world is no good to you if you have no stock to sell. Larger suppliers tend to carry more stock, so they should be able to supply more quickly. For peace of mind, look for suppliers who have been operating for a few years and you could ask for a credit check.
You can find suppliers through directories like yell.com, trade associations, adverts in industry magazines, or trade fairs. It’s prudent to spread any risk by using more than one supplier, in case they have difficulties. After you’ve appointed your supplier, make regular checks to ensure that you are still getting the best price and/or service. If not, it might me time to exercise the exit clause in your contract.
Federation of Wholesale Distributors
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