How Electrical Contractors Can Build A Relationship With Wholesalers?
Your relationship with your wholesaler is like an iceberg. Right now, you can only see a percent of it, but it has more capacity. A solid and strong relationship with wholesalers can make your life much easier and you can work with a little less stress.
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Key Benefits Of Building A Relationship With Your Wholesaler
Wholesalers understand the electrical business market, they price accordingly, offer competitive prices, and as a result, you can price better.
It should not be just a transaction process. You have got to understand each other. To know who you are dealing with, you can go to organised network dinners to share knowledge about market pricing in the industry. You have got to make sure that you like people you work with.
If you ever face a problem with your wholesaler, it is imperative to address the issues. With your feedback, they can be more efficient, provide uniforms to their staff, offer better service, and also help with social media. Your business should grow and it should be mutually profitable!
That does sound inviting -- what do you think? Are you ready to get the best out of it then? If yes, read on:
Ask Your Wholesaler For Advice On Products
A major cost of running a business is with respect to stocking. To get the external value of network and knowledge, you have got to build a relationship with the wholesaler. They know which products are hot and which are not. They have experience and connection in the local and national markets, so they can predict future trends from their past insights. Thus you should ask your wholesaler for advice on products.
Don't Be A Transaction To Your Wholesaler
What's your attitude towards a transaction -- is it just a business service OR would you like to deal with people who stay and become your friends? To make this happen, you have got to facilitate, give feedback, and match the price.
Constant feedback is a must because without it there can be no improvement. In the article, “7 tips for great supplier relationship,” it is suggested that you should train your suppliers regarding what you need. Thus they will know your requirements and be able to stock and supply accordingly.
If you buy something routinely off the shelf, your wholesaler will stock it for you. Once you build a personal work relationship, the wholesaler will also help you to walk through the store, drive you to back door, etc. These are a few special things a wholesaler will you do for you when you have a good work relationship with them.
Sometimes, you might need a specific material urgently on weekends and they might consider delivering it to your door place, FREE of charge because of the honest and friendly relationship you have got going. On the other hand, when you do not support them, they will charge a call out fee.
Issues With Employees Getting Too Comfortable With Wholesalers
First things first -- you have got to trust your employees, share the knowledge base, and let them learn from the electrical contractors, who are savvier.
But, if your employees sit for an hour’s worth of time with the wholesalers, it eats into top 12% of your productivity, and you have lost 2.5% of your profit. Thus your productivity is affected when employees while away one hour of work.
You should also encourage your staff to attend the product launches during business hours or you can have them after hours. It is up to you, you can pick and choose the electrical industry events you support.
I hope you have got practical tips and insights from this article. For more such awesome methods and electrical business planning tips, join our online Electricians Success Academy!
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