Finding high quality chemical suppliers for your enterprise is the key to your success. If you have a good relationship with your product supplier, you are likely to get better payment terms and bring much-needed flexibility to your business. On the other hand, unreliable product suppliers may leave your shelves empty and then take your customers to competitors’ stores.
Choose your product
The first step in finding a supplier of quality products is to make sure you choose the right products for your wholesale business. Knowing your market before investing in inventory or choosing wholesalers will save you a lot of time, money and headaches. Several issues need to be considered when selecting products include:
Do you know customers’ tastes and interests?
Are certain characteristics important to them?
Do your clients need special financing?
Is your potential client an individual or a company?
Do your customers prefer to buy products online or in physical stores?
Determine the type of chemical suppliers
Once you have selected the product type, you will buy for your product business. Now it’s time to determine which type of chemical suppliers you need to start. The following descriptions of different product supplier types can help you decide:
Manufacturer: some manufacturers will sell products to you directly. Manufacturers often require a higher minimum order quantity or order in bulk. If you are going to buy directly, then this is an excellent choice because you can save money in the long run. However, if you’re worried about large orders, you’d better buy from a middleman until you’re ready to buy in bulk.
Distributors: these middlemen are usually the sales channels of many physical stores and even online stores. They buy in large quantities and then resell them in small quantities to local stores.
Foreign companies, importers / import agents: don’t limit yourself; consider purchasing your products internationally. Many import companies are ready to help you find some incredible deals abroad and act as domestic distributors for offshore companies. However, if you do due diligence and are ready to deal with import details, you may want to bypass the importing company and deal directly with foreign manufacturers yourself.
Drop shippers: Although many drop shippers function as distributors, purchasing quantity and reselling individual products, the key difference is that they deliver products directly to customers’ doors. This is particularly important for stores and online businesses that may not have the resources to store products locally.
With the growth of business and the increase of sales volume, you will be able to move up the supply chain and get better prices and more favorable payment terms.