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PARTNER WITH YOUR WHOLESALER |
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Optimizing Your Wholesaler- Making the Most of the Retailer/Wholesaler Relationship
Working with a qualified wholesaler who truly understands your business offers a wide range of advantages to the shooting sports retailer. And the closer and better your relationship with that wholesaler, the more advantages you'll receive. A good retailer/wholesaler relationship can be a trusting and mutually profitable partnership-the wholesaler takes on the financial burden and acts as your warehouse so you can stock and sell what you want, and not have it dictated by manufacturers. Like any good partner ship, however, it requires work and diligence from both sides to succeed and grow.
We offer this advice to help you fine the best wholesaler partners for your business and maximize the benefits of this key relationship.
OPTIMISING YOUR WHOLESALER-Making the MOST of the Retailer/Wholesaler Relationship
1. DO YOUR RESEARCH. When considering a wholesaler relationship, make sure the company is the right match for your business. Of course, ask about what product lines they carry-but dig deeper. How much inventory do they keep in stock? Do they have a good website and online ordering for qualified accounts? Do they ship orders the day they're received? What type of terms and payment methods do they offer? Will you get a dedicated account person you can turn to when needs or questions arise? Are they a member of the National Association of Sporting Goods and Wholesalers (NASGW) and do they adhere to this organization's business ethcis and goals? (For more information visit http://www.nasgw.com) There questions not only help you learn about one another, they show potential wholesalers you're serious about running a successful business.
2. BUILD TRUST. "It's the relationship that matters most, not the price," said Laurie Aronson, President and COO of Lipsey's Inc., a leading firearms distributor with more than 50 years in the shooting and outdoor business. "Working with a person your trust is far more important than finding somebody who can save you a few pennies on each product. The best wholesalers will understand your unique business, and will work with you to lay a plan for success." Aronson also suggests that retailers cultivate trusting relationships with three or four good wholesales, not just one, to take advantage of complementary product lines and the different strengths each partner brings to the table.
3. EXPECT GOOD ADVICE...and LISTEN. To operate efficiently and maximize sales, retailers need to carry a wide variety of merchandise. If you rely solely on special ordering and overnight shipping to meet your customers' needs, you're operating inefficiently and probably missing sales. Listen to advice from trusted wholesalers about "hot" products and what you'll need to take advantage of every sale. This included having items in stock to "cross-sell" a customer who may come in your door inquiring about different firearm or accessory-a good wholesaler can help you strategize your store's inventory to take advantage of trends and add-on sales.
4. TAKE ADVANTAGE OF WHAT YOUR WHOLESALER OFFERS. Ask your wholesaler about manufacturer stocking dealer programs available and take advantage of the powerful tools they can offer. Important sale and marketing tools such as POP materials, displays, advertising materials and co-op, and special ordering discounts are often available. Some wholesalers offer exclusive products arranged through firearms manufacturers, so you can differentiate yourself from local competition. "A good wholesaler should always be on the look our for tools to help you sell more improve your profitability," said Aronson. "Discuss these with your account person and work together on a strategy to increase sales and your bottom line."
5. REVIEW YOUR RELATIONSHIP. Don't hesitate to discuss your relationship and any concerns with your wholesaler. Are your service expectations being met? Are your questions being answered with the first phone call? If not, are you called back promptly? Do you have a trusted person, or do you keep talking to somebody new who doesn't know your business? The best wholesalers are as concerned about a long-term relationship as you are, and will make changes if you're not satisfied. Aronson offered this final guideline: "Any retailer that doesn't attend SHOT is really missing the boat. It's a perfect opportunity to make one trip and meet with all your suppliers- or look for new ones. Wholesalers play an integral role in the businesses of today's shooting sports retailers, If you make this business relationship a priority , both parties will reap the benefits of a successful partnership."
by Bruce Bear
Bear Enthusiast Marketing Group is a leading marketing, advertising and public relations agency serving the shooting, hunting and outdoor industries. (818) 865-6464 or visit www.bearemg.com
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