It is very important that you find the best dollar store merchandise suppliers for your store. There are many vendors out there, so choosing the right one can be difficult.
It is very important that you find the best dollar store merchandise suppliers for your store. There are many vendors out there, so choosing the right one can be difficult. If you are having trouble locating them, here are 4 guidelines for picking the best:
#1) Do not use too many vendors
Having a dollar store requires you to keep a lot of products in stock. However, this does not mean you need many vendors. In reality, having too many will hurt your profits, because many are unreliable. You want to rely on a few quality vendors instead of many low quality companies. 3-5 reliable vendors are all you need to have a successful dollar store.
#2) Look for experience
Dollar store merchandise suppliers who have been in business for a long time are obviously doing something right. Experience does not mean they are a quality company, but it increases the chances that they are worth doing business with.
#3) Evaluate their service
Good customer service is very important attribute for any vendor. Make sure they contact you shortly after you place your product order, and that they deliver the items quickly. Otherwise you will keep running out of stock, and your customers will get frustrated and probably go to a different dollar store.
#4) Find the cheapest prices
The reality is that inexpensive stock is one of the most important factors in earning money with a dollar store. You profit margins are going to be razor thin, so you want to be sure that any company you pick has low prices. It is very important that you compare the costs of many different vendors for your products before you select one.
Where can you find vendors?
Simply finding wholesalers is often difficult. Many dollar store owners might be tempted to just go to Google and type in “dollar store wholesalers”, but the sites that come up here are often not legitimate wholesalers.
Think about it from the wholesalers perspective. They want to sell their products to legitimate businesses that will sell huge quantities of their items. If they are ranking in the search engines, they will have many people calling them who are not legitimate businesses, so they will tend to avoid these high trafficked locations.
Instead, the best way to find wholesalers is going to trade shows and industry events. Also, ask the current vendors you have if they can recommend anyone.
Finding quality dollar store merchandise suppliers is very important for having a profitable dollar store. Use these 4 guidelines, and you should find the best ones.
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