Author Archive
by Carrie Hinkel on October 16th, 2008
Whether you are opening a brick-and-mortar store or creating an online e-commerce site, you’re going to need a variety of products from a multitude of manufacturers. While it may seem overwhelming to set up accounts with so many vendors, there are definitely some easy ways to simplify the process.
First, you will need to decide what types of products you want to carry. It’s best to be flexible with brands, colors and sizes, as that will open up your opportunities when dealing with suppliers.
Wholesale product sources
*Manufacturer: Most times buying direct means a high minimum order. Usually manufacturers will... Read more »
by Carrie Hinkel on September 24th, 2008
Specialty retailers looking for new ways to source products may want to consider visiting local live auctions on a regular basis. The wares are always changing, and while finding products may seem like a needle-in-the-haystack quest, the rewards can be nothing sort of amazing. From a caseload of unopened mp3 players to valuable antiques whose beauty is hidden under a layer of dust, live auctions can hold a treasure trove of products for retailers.
The types of items that can be found at live auctions
The goods being sold at auctions can make some retailers truly giddy with excitement when... Read more »
by Carrie Hinkel on September 23rd, 2008
As the internet makes contacting and communicating with businesses incredibly easy, more entrepreneurs are considering setting up a wholesaler business. A wholesaler is basically a middleman between manufacturers and retailers. Wholesalers buy products in bulk from manufacturers and then sell them at a markup to retailers. There’s no doubt that wholesaling can be a very lucrative business, especially when you carry a full line of products within the same product category.
Getting started as a wholesaler
Find potential manufacturers – This may sound simple enough but it truly is a time-consuming process, as not all manufacturers are willing to take... Read more »
by Carrie Hinkel on August 6th, 2008
If you’ve decided to sell name brand products in your store, you’re in luck. Because of the popularity of certain brands, they are easy to find and buy at wholesale prices. However, there are some very real risks to look out for when trying to source your products.
Important things to know about brand-name product sourcing
1. Fake “factory authorized” distributors : It is a must that you buy your products from distributors that have been authorized by the manufacturer to wholesale their products. Most brand-name manufacturers will not sell directly to you, so you will need to go through... Read more »
by Carrie Hinkel on July 14th, 2008
Having an interesting and wide variety of products in your store is important, but without a creative way to display them, you could be missing out on a ton of sales! Think of your store’s display space as part of product marketing and promotion. You are trying to draw customers into your retail space and get them intrigued about your products. Now, what better way to do this than by creating a warm and cozy atmosphere that is logically laid out and with products creatively and attractively displayed? Once your store’s retail space is being used to its full advantage,... Read more »
by Carrie Hinkel on May 7th, 2008
Starting a small business can be confusing, in terms of deciding what "type" of business yours will legally be defined as. There are five main types of business organizational structures: sole proprietorship, general partnership, limited partnership, corporation and limited liability company (or LLC). Each is set up and operated differently, and each is looked at differently in terms of taxes and legal protection. Knowing which one is right for you and your business is crucial, and can save you from future legal and tax headaches.
The five main types of business structures
Sole Proprietorship – This type of business is... Read more »
by Carrie Hinkel on May 2nd, 2008
Anyone with an email address knows how overwhelming and annoying all those junk emails can be. Sifting through an inbox and trying to decide what’s click worthy and what’s junk has become an annoying daily chore. It’s no wonder that click rates are down – consumers have grown tired of the same old subject lines and have become programmed over time to delete, delete, delete.
But, don’t worry; email marketing doesn’t have to be pointless. When done right it can truly be effective. It’s getting your emails to stand out from the sea of junk that’s the seemingly tough part.... Read more »
by Carrie Hinkel on April 28th, 2008
Let’s face it; the majority of products being sold on the market compete with other products that are very similar or even identical, except for perhaps a color or logo change. So, if your product is having trouble competing based on price, features or benefits, then take it a step further. Use your audience’s emotional side to help them identify with your company and its products.
It’s hard to compete when your competitors are all using the same selling points as you. But the difference will be that your competitors are most likely ending the sell there, while you’ll soon... Read more »
by Carrie Hinkel on April 25th, 2008
For a brick-and-mortar retail store, getting customers in that shopping mood is key. For some, “browser shoppers”, shopping is entertainment. Browsing through stores, soaking in the new merchandise and hoping something strikes them as a “must have”. These shoppers love whimsical product displays, winding floor plans, upbeat music and bright colors. They don’t mind being distracted by new product displays or fun and funky decorations.
For others, “mission shoppers”, shopping is purely a mission to purchase a specific item. They are searching for something in particular and most likely won’t take the time to browse around the store. These customers... Read more »
by Carrie Hinkel on April 25th, 2008
If you’ve been dreaming about starting your own business, but just can’t take yourself away from the security and steady paycheck of your current job, don’t fret. Many successful business owners started their company with just a few spare hours in the evenings and on weekends – and you can too! Here are some tips for getting your business idea out of your head and in front of customers.
Make an “after hours” schedule – Getting serious about your new business means making certain time commitments in order to get it off the ground. Whether it’s getting up a couple... Read more »