The viability of retail businesses depends entirely on the presence of reliable and competent wholesaler who can maintain a steady supply of the products. The dependence on the internet in the current world has made it difficult for retailers to find a reliable wholesaler that can supply the goods they need. you are to be extra careful when finding merchant account service to supply your business to avoid getting into business with conmen and scammers in case you chose to use online platforms. Knowing what you want to trade in will only make it easier for you when finding a merchant account service provider. Here are some guidelines on what to look for when finding a merchant account supplier.
You should start by taking a look at your industry’s supply chain and making sure you know it correctly. It is worth noting that merchant account service providers have diversified and do not offer the same market needs. As a retailer, you should have proper knowledge regarding the supply channels in your industry. Once you know where you fall in your industry’s supply chain, it becomes easier for you to find the right wholesaler.
You can then select the type of wholesaler you want to get your products from after knowing where you lie in your industry’s supply chain. Wholesalers can be divided into manufacturers, exclusive distributors, regional distributors, and jobbers. some small businesses such as boutiques will prefer to get their products directly from the manufacturer. Exclusive distributors or importers are given the rights to import their products and act as the company’s leading supplier in a specific country where they can sell them directly to retailers or through smaller wholesalers. Regional distributors will buy their products in large quantities and break them down into even smaller portions for sale to retailers. Jobbers are the individuals that make the daily deliveries to local stores. Each distribution channel is meant for a specific product industry.
You can now select a wholesaler after taking these steps. If possible, you can get your product directly from the manufacturer. If you do not meet their minimum order requirements or if they only sell through established channels, ask them for a list of reliable distributors you can go through. It is advisable that you go through as fewer as possible people to lower your cost which in the long run improves your completion in the market and reduces the risk factor.