Stocking To Large Stores: What Do You Need To Do?
February 6, 2018 by Staff
Filed under Money/Business, Weekly Columns
(Akiit.com) Every small business owner dreams of the day they can seal a big deal with a larger company. When it comes to business growth, it doesn’t get much better. Well, not unless you were in a position to open your own large-scale store. But, it’s unlikely that’ll be a possibility until down the line. In fact, it’s unlikely you’ll achieve the success necessary without taking this step first. Hence why entrepreneurs across the world set up meetings with big bosses and perfect their pitches.
But, let’s say your dreams have come true. Finally, one of the front-runners has agreed to stock your product. They may want to start with a small amount or go straight in with a large order. Either way, it’s time to pat yourself on the back and consider these technicalities about stocking to a large store.
Find the best way to deliver
First, you need to consider how you plan to get your products to the company in question. The chances are that, during your planning stages, this point fell by the wayside. You already had enough on your plate, after all. You certainly didn’t want to add to the load. Now, though, planning how to transport your goods is a reality you need to face, fast. In truth, how you go about this depends on the size of the order. If you’re only delivering a small amount, a courier service could be your best and cheapest option. If, however, the order is substantial, a private transport company like Jayde Transport may be your best bet. This type of service would be especially useful if you manage to secure a few big deals in the same area. As such, it might be worth branching to other big businesses near your current client. After all, you can now ship to them with no added cost.
Increase production
As exciting as it can feel securing a deal, you need to remember that you’re still insignificant to the company. Fail to keep up with production, and they’ll replace you with another brand in no time. So, make sure you’re realistic about meeting the new demands placed upon you. It’s unlikely you can continue with only your current team. Reconsider your budget, and hire a few extra people to help you keep on top of things. You should still see a significant increase in your profit after this expense.
Keep communications open
Many big deals end because communications turn sour between the businesses involved. Larger companies have pulled out of lucrative contracts because they felt messed around. Make sure that doesn’t happen here by keeping communication open. Let the business know what date and time to expect their deliveries. Make sure to contact them the moment you become aware of any delays. Sometimes matters, such as traffic or weather disruptions, will be out of your control. Big businesses understand that and will be accepting if you keep them informed. If you go quiet, however, a late delivery could cause issues.
Staff Writer; Paul Carr