Setting up your retail store is a long and complicated process. One of the main aspects of setting up your own retail store is finding and purchasing from the right wholesale store. In this article, Atlantic Dominion Distributors—a wholesale distribution company—will give you a few quick tips to consider before buying wholesale merchandise.
Determine Your Retail Needs
The first tip to consider before buying wholesale general merchandise is to determine your own retail needs. What type of store do you have? What do you want to sell there? How much inventory do you want to keep? Do you have storage for more inventory? What are your projected sales? All of these questions and more should help you determine the type and amount of general merchandise you will need.
The next part of buying wholesale merchandise is to analyze your competitors. Find a store or stores in your area that is similar to what you want to provide, and take note of what brands they carry, what is selling, what is not, and how they are priced. This will give you a good overview of industry standards.
Once you feel like you have a good grasp of what is typical in your industry, it is time to find a good wholesaler. A trusted and reliable wholesaler can make all the difference to your bottom line. Similarly, you will want to find a wholesaler that offers the products that you want to sell.
There are many places you can find wholesalers including trade shows, networking with other businesses, small business administration, Facebook, etc. Talking with other people and networking will help you get a better understanding of different wholesalers who are available in your area.
In addition to wholesalers, manufacturers may also sell their products at a wholesale price. This allows you to avoid choosing a wholesaler and instead just go straight to the manufacturer themselves.
Choosing a Wholesale General Merchandise Provider
When you have a good list of potential candidates it is time to choose a wholesale merchandise provider. When choosing a wholesaler you should consider the products they sell, shipping prices, minimum order amounts, price points, and deadlines. These aspects can dissuade you from choosing them as a wholesaler. In addition, you should make sure that the wholesaler you choose has a good reputation within the industry. You don’t want to choose a wholesaler only to later discover that their shipments never arrive on time.
Making the Most of Your General Merchandise
Once you have chosen a wholesaler who meets your needs, you need to be able to make the most of them. A good wholesale company is only as good as you make them. If you are worried about meeting a bottom line, increase your retail prices so that you are projected to make a profit. If you don’t sell a lot of a certain product, don’t purchase it the next time you order. And similarly, set up a payment plan with your wholesale merchandise provider. All of these aspects of your business can influence the amount of profit you generate.
Wholesale Merchandise in Virginia, North Carolina, and South Carolina
Are you looking for a wholesale distributor that provides wholesale general merchandise? You are in luck! Atlantic Dominion Distributors offer wholesale merchandise to retailers in Virginia, North Carolina, and South Carolina. As an industry leader, we know how to help you and our team is willing to work with you. We are a respected and well-known name in the area, and many businesses come to us for our expertise.
Contact us today to see how your business can benefit from our services.