By Audrey Isaac, 100Candles.com
Establishing wholesale relationships is a great way to improve the profitability and service of your event company. It’s a brilliant win-win situation. You can provide couples with the products that they would have to research and buy elsewhere, saving them time and effort. Meanwhile, you increase and diversify your revenue. Don’t worry. The process isn’t complicated, but you do need to do your research, keep yourself organized and stay on top of your responsibilities to make it work.
Begin with top-quality research. Know what your clients buy frequently from other sources and look into options you might have to offer it in-house. Capture all information about your options and organize it in one place, like an Excel or Google Docs spreadsheet. Record the unique benefits of each company along with any concerns you might have and outline it altogether for careful comparison.
Use your research to choose your “wholesale dream team.” As you reach out to establish relationships, record the contact information for each supplier and keep the information in one, easily accessible spot. Update it frequently as staff can change, and set up a calendar with reminders every quarter to make sure you thoroughly review the information and make any changes that may have come up recently. Your service to your clients will only save them time and effort it’s easy for you to access totally current information.
Maximize your wholesale revenue stream by incorporating it into your standard operating procedure. Create a set point in the planning process when you will introduce the idea to your couples and run through their options. For example, if you decide to offer candles, create a checklist so you can cover all of the available colors, styles, types and sizes. Be educated about the products you will offer – know the advantages of one candle over another, and be ready to explain how each one meets your clients’ needs. By choosing a specific time in your planning process with your client, you’ll stay organized and remember to make the pitch to each and every client, taking full advantage of the wholesale relationship and opportunity.
Don’t forget the logistics! Know your supplier’s shipping policies and timeline for delivery. Make sure you place orders with more than enough time for delivery so you don’t leave your clients in the lurch at the last minute. You can’t control some factors – weather, strikes, and other complications, so give yourself and your supplier a cushion to ensure that you are both able to exceed (not just meet) client expectations.
Ultimately, you need to put the time in to ensure that you are aligning yourself with suppliers of products that your clients want and need who will provide the level of service and product your company is known for. Making carefully considered and highly organized choices will help you establish and nurture the best possible relationships with retailers, to the mutual benefit of your clients and your company. Your potential is unlimited!
Audrey Isaac is the spokesperson for 100 Candles, a wholesale market for candles and lights. Since 2002, thousands of wedding and event professionals have entrusted 100 Candles with their wholesale candle accounts. For more information, please visit https://www.100candles.com/