Preparing for Wholesale Supplier Meetings – Things to Remember
Setting up a supplier meeting can be pretty exciting for any retailer, whether they are a newbie to the wholesale game or a seasoned and experienced reseller. Meeting a new supplier means you have the chance to explore new opportunities and new ways of expanding and building on your business.
The first supplier meeting can be crucial in many ways. Handled in the right way, the meeting can lead to many more fruitful discussions and meetings in the future. If not handled properly, a supplier meeting can spell a quick end to any possibility of future negotiations. Here are some handy and helpful tips on how to handle that first supplier meeting.
Prepare Well!
You may have found a verified and reliable supplier on esources.co.uk, but the supplier research process certainly doesn’t stop there! While their contact information may be verifiable and authentic, you still need to know about their company and how they operate. Search online and in different trade publications to learn more about the supplier and what their track record is. It can also be helpful to talk to other retailers about their experience.
One thing that you’ll want to avoid when heading into a supplier meeting is asking questions that you can easily find the answer to elsewhere. For instance, if the supplier clearly states their shipping policy on their website, you shouldn’t be asking them about this during the meeting. Make sure that you collate the information you need, about refunds, payments and customer service prior to the meeting. If you cannot find this information, call them up before the meeting.
Be Clear About What You Need?
In many cases, buyers spend a lot of time finding a supplier on esources.co.uk and learning all that they can about them. Are you clear about what you want? What are your requirements from the supplier? All too often, a buyer will go into a supplier meeting with only a very vague idea of what he wants. In such cases, the meetings usually stall. If you have a clear idea of what your needs are, the supplier will be able to clearly map out the best way to give this to you.
This is why you should try and be as detailed as possible about your requirements. Research the product thoroughly beforehand, so you know exactly what you want in terms of quality, colours and quantity. Also, don’t demand a discount right at the first meeting. The supplier has no way of knowing if you will be a repeat customer. Let your requirements grow and allow the relationship to develop well; it won’t be long before you start getting discounts.
Instead of insisting on a discount at the very first meeting, make it clear that you are serious about having a long-term relationship, and that if all goes well, you will definitely bring them more business. Don’t forget to keep these promises as well! If that first deal goes over well, work out another deal with them. This time, you can be sure of a discount and remember that the more business you give them, the better your discounts will be in the future!