Jan

16

When a Supplier Goes Out of Business…

Filed Under Wholesale Suppliers 

The last thing any of us want to see is a trusted and conveniently-located supplier hang a “closing sale” sign above their door. It affects the owner’s lifestyle, the community’s strength, and your business. How do you prepare to move forward without this resource?

1. Buy as much of the goods, within budget, that you’re sure to resell. Paying for speculative merchandise is an unnecessary expense, and it also wastes storage space. Stick with products and supplies you know customers will order.

2. Make time to search for the next best facility. Begin your search by asking the owner if he knows of or works with competing firms in your area. Next, conduct an online search through Google, Yahoo, and MSN. You may be pleasantly surprised to find that another supplier has opened in close proximity.

The audio CD, How to Find Products In and Around Your State, unleashes dozens of ideas to locate hidden warehouses. It’s the last title listed in the CD section.

3. Begin placing orders at well-known sources that deliver to your door. If you add up the miles traveled to suppliers, the numbers may be telling you it’s time to start ordering by phone. That will leave you more time for designing and marketing.

A Borders bookstore in my area is closing, and I made one trip there yesterday to save 40-75 percent.

My book, How to Start a Home-Based Gift Basket Business (4th edition), was in the business section. I’m giving away this book along with my new title, Marketing Solutions for the Home-Based Business, in a contest that ends on Wednesday, January 23.

This contest is open to worldwide gift basket designers. See the rules here.

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Read these related articles:

  1. One Way to Fund Your Gift Basket Business
  2. Finding Products, Failure versus Success
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  4. Baskets in Your Backyard
  5. Money for Business, Fragrance Mixing, Client Surveys

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