Supply Side Secrets of Entrepreneurs

supply secretsThe success of any business venture depends on many great things from the initial idea, capital investment, sound management and all the other things that go into starting and running a business. A failure in any area usually means doom for the business.

Some areas are even more difficult for the novice business person to get used to. One place that many can learn to take advantage of is business supply sources. Finding a quality vendor can mean the difference between success and failure in many businesses. Lower costs and higher margins as well as a steady supply stream is worth its weight in gold to a new business.

What is a Business Supplier?

The problem with most business supply sources is that they do not advertise on the local television and newspaper as a rule so finding them is the first trick. An internet search for wholesale and business supplier quickly leaves you understanding these are common retail terms now and that the sources easily found like that are more retail oriented in reality.

The best source of real business suppliers will be trade shows and expos made for businesses. It is the use of these sources and carefully crafted relationships that true resources are found and nurtured into a healthy business relationship that can withstand a bad month or quarter.

Why are Business Supplies Different?

While some stores do cater to both retail customers and other businesses (as an example might be Staples Office Supplies) the difference in typical business and industrial supplies is large. It is more than bulk buying and less fancy packages.

You are able to buy concentrates that cannot be sold to the public and purchase qualities of product that are actually too good for public sale. While that may be counter intuitive, in a business everything is about durability.

A vacuum used to clean a home of a few hundred square feet of carpet a week is not the same durability as one made to work for thousands of yards of carpet a month and the home buyer has no need for the additional cost and quality.

There is also a matter of warranty. Items made for use by businesses carry a commercial warranty. Buying non-commercial products and using in a commercial environment renders the warranty worthless. As an example, furniture used in student housing purchased from a local retailer would never stand up to the test of time and would have no warranty, however a business supplier like Peel Mount specialises in university furniture. By looking to commercial and business suppliers you are able to save costs in both long and short term.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

Speak Your Mind

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.