5 things to consider when choosing a Furniture Supplier

Starting your own business is an exciting and nerve-wracking process. If this is where you see your path leading, you’ve already done a lot of the hard work and you’ve already made your decisions on what you want your business to look like. Is it a traditional brick-and-mortar storefront? Or are you riding the digital wave and opening an e-commerce-only store? Maybe a combination of both? Whatever your sales outlet is, you will need to have a reliable source and method of bringing in product – if you’re getting in to the retail business and you don’t have product to sell then you might want to rethink that business model!

 

We can help you find the right supplier

 

It can be a daunting experience, weeding through all the potential suppliers and trying to find the ones that you want to build a working relationship with. You can have multiple suppliers that provide different types of items, and you can also move through various suppliers as the demands of your business grow and markets change. But each time you’ll have to vet and find those trustworthy and reliable sources.

We’ve put together a list that you can carry with you through the years of your business that will help you zero in on the right supplier(s) for your business model. Read on for our recommendations of 5 things to consider when choosing a supplier.

 

1. Profitability

When it comes down it, a business is a business. Which means you have to find a way make money – you need to cover your basic overhead costs, pay your employees, reinvest in your business, and then of course have some left over for yourself at the end of it.

When choosing a supplier, you want to take a close look at their product costs as well as their policies on MAP pricing, which can greatly affect how you run sales and promotions). Factors like freight, service fees, and regional taxes can impact your overall cost of goods.

 

2. Ease-of-Access

Locations are important! If you supplier is across the country, or even on the other side of the border, this can affect everything from your cost of goods to shipping policies and times. If you are the type who wants a hands-on approach to buying product, then you will want to choose a supplier who is within your region so you can visit their showrooms and get a closer look at their products.. Or look for suppliers who participate in trade shows so even if you must travel there, you can hit up multiple companies at once.

If your model is more drop-ship focused, then you can look for a supplier with a stronger shipping network regardless of how close they are to you.

 

Visit our website for information on our Drop Shipping program

 

Generally, how easy is it to place orders? Do they have a phone-in system, or can you place orders directly online? You will want a supplier with a high-rated, user-friendly website. Placing orders and getting your product should be the simplest part of your relationship with a supplier.

 

3. Customer Service & After-Sales Warranties

Customer service is what makes a lasting impression on both dealers and end consumers. It’s what will keep you going back to the same suppliers even if they don’t necessarily offer the lowest prices. Many companies have dedicated regional sales reps – are in-person visits from a rep important to you? Or perhaps all you need is an account manager that is readily available when questions and concerns do come up.

 

Ease-of-access is important when looking for a supplier

 

For after sales, you will want to know what the supplier’s warranties are. Do they handle service requests like replacement parts or damaged items directly or does the customer have to come through you?

These are all valid, service-related questions that will play an important part in how you select your suppliers.

 

4. Inventory & Selection of Products

If you are selling items, you want to make sure you can provide what the customer wants when they want it. That’s why inventory plays a big part in choosing the right supplier.

Are you specializing in chairs for example? You will want a supplier that can fulfill all your chair orders on demand. Look for suppliers with good lead time on inventory fulfillment. And if items do go on back order, how long until they can be completed? Will it be a few weeks or a few months?

Depending again on your business model, you may want a supplier that has a good variety of items. Do they have similar style items that can be a replacement for others when inventory does run low? A good furniture wholesaler, for example, will have a selection of upholstered storage ottomans, in a range of prices, so you will be able to find the pieces to sell that you know your customers are looking for.

What is the turn-around time for the supplied products? How often do items become discontinued? Does the supplier release a varied selection of new items all throughout the year? The more they refresh their stock, the more you can do the same in your stores.

 

5. Marketing, Promotions, & Social Media 

When looking for a supplier, consider how they market their products – both to dealers like you and to the end consumers. Do they like involving their dealers in their marketing? Do they have social media accounts that garner excitement around certain items?

Does the supplier have a policy on promotions? Do they offer promotions to dealers that offer discounted items? How often? Do their promotions need to be reflected in your own? Or do you get free reign on when and how much you want to discount items?

 

Does the supplier offer promotions that you can pass along into your business?

 

Product reviews are a huge asset in today’s online-driven market. Does your supplier have a database of product reviews on their website? Do they encourage you sharing reviews on your own site? You can also look for reviews on general sites like Google and Yelp but be wary of these as many of the reviews can come from end consumers who may not understand the wholesale business model.

 

So much to think about! But keep this list as a handy reminder of some of the important things you need to know when searching for a new supplier. If you have some other tried and true tips on vetting and finding quality suppliers in your industry, let us know!

Looking to open a retail storefront in the furniture and home décor industry? Worldwide
Homefurnishings Inc. can be a great fit for your business. From excellent customer service, to top-notch drop-shipping and wholesale programs, you’ll see over 30 years of experience come into play to help take your business to the next level. Visit www.worldwidehomefurnishingsinc.com for more information on how you can become a dealer today!

 

 

 

 

 

 

Drop Ship your way to Success!

What is Drop Shipping?

Drop Shipping is a simple business model where the manufacturer of a product ships the item purchased directly to the end consumer. Your job – as a retailer – is to offer those items to your customers and SELL! SELL! SELL!

A store front isn’t necessary – you can list the items directly on your online shop. We provide beautiful, full colour photography of items along with web-ready descriptions and specifications. All the information that you need to effectively sell that product. It’s low risk, low cost and easy to start up. You don’t need a place to store inventory because we, as the manufacturer and distributor, will ship products out directly from one of our warehouses.

You don’t need to bulk purchase items to receive discounted prices – you pay wholesale prices, and you’re eligible for ongoing promotions so you can pass on your savings directly to your consumers.

Processing orders is simple with our user-friendly, dealer portal where you can view live stock, updated pricing and add orders with one click. You can start selling on the same day that you sign up!

 

Visit our website for information on our Drop Shipping program

 

Keys to Drop Shipping Success – some tricks of the trade that may help you in setting up your Drop Shipping business:

 

  1. Build up your website traffic

Because this business model depends on the virtual ‘foot traffic’ that is people browsing online for items they want to buy, getting people to visit your website is the equivalent of getting window shoppers to come into your store – if they come inside chances are higher that they will buy!

This is where SEO comes into play. SEO stands for Search Engine Optimization and refers to the virtual breadcrumbs that lead online consumers to your virtual store. Things like keywords in your product titles, categories and subcategories, as well as your page titles and meta descriptions. Many website builders offer tools to help you through this process but if you feel like you need more help, or if you would rather leave it up to the pros, investing in an SEO agency may be worthwhile to build up your traffic.

 

  1. Write blogs

Don’t be intimidated – this can be as simple as picking one of your favourite products for the week and talking about its features. Online tools like Grammarly can help with spelling and grammar and in the end, you’ll have fresh new content for your website that will be informative for your potential customers and will help direct even more traffic to your site.

Try to write at least 3-4 blogs a month. Keep track of your website traffic analytics tools and you should start seeing a boost in traffic within the first couple of months.

 

  1. Limit your inventory

When you list products, you want the best curated collection of items that are relevant to your site and your business model. You also want to present the best version of those products, which will motivate your customers to buy from you and not the next site they visit. This means tweaking or even rewriting product descriptions to make them your own and editing images to optimize their appearance on your site. Start by listing your favourite items and take them time to present them the best way that you can. You can continue adding more products as time goes on and your sales go up. This will also help you stay on top of all the latest new introductions from manufacturers like Worldwide Homefurnishings. We intro new products almost every quarter, so you want to be able to have the freshest and newest items to offer your customers.

 

  1. Paid advertising

Working on refreshing the content on your site will work well for your site traffic but if you want to see immediate results and on a greater scale, you may want to consider investing in paid online marketing. There are many programs available like Google Adwords (with campaigns like pay-per-click sponsored search results or remarketing campaigns), Facebook Business Manager (which advertises with sponsored ads on Facebook and Instagram) and other Affiliate Marketing programs (where you work with other websites to piggy back off each others’ traffic).

You should also be tracking the traffic on your site with free tools like Google Analytics, so you can try and see the effects of these paid marketing strategies.

 

  1. Rewards and Incentives

Leverage seasonal sales – people buy when it’s the buying season, so don’t be afraid to put your products on promo as well. Festive offerings, seasonal sales, BOGO deals, and “LAST CHANCE” clearance sales are just a few promotions that you can run to garner attention and website traffic.

Don’t underestimate reviews – when consumers are not sure about a product, especially big-ticket items like furniture, they will look to their peers for guidance. Ask your customers to write reviews after they have purchased an item. The more detailed the better! You can offer incentives to customers – “Post a review and receive a promo code for your next purchase!”

Take advantage of social media – encourage customers to share images of their purchases in social media and to tag you. You can offer prizes for the best picture of the week.

Keep on top of your inventory – the products you list are the best representation of your business and what you want it to look like. Do continued research and adjustments in pricing to stay competitive. Respond to feedback, both positive and negative.

 

Let us know if some of these tips were helpful for you in setting up your small business. Do you have any more tips for someone who might be starting out? Let us know in the comments below.

 

At Worldwide Homefurnishings Inc. we have over 30 years of experience. We are dedicated to you and your business because your success is our success! Check out our Drop Shipping program here. We look forward to hearing from you.

 

Your success is our success!