Before we get to creating vendor relationships, first it's important to find the best vendors for products you plan to sell at your retail or online location. Plus those vendors must - among other things - consistently provide good to excellent customer service, making it easy for you to buy. While this may seem a lot to expect, in today's competitive marketplace, not to worry. It's a way of life for successful vendors. Vendors you'll not only buy from, but come to rely on.

4 Essential Strategies to ensure you make the right buying decisions:

Buying with a plan and a vision -

As with other facets of your business, you must have plan. In this case, it's a buying plan. Before making your buying plan, you should know:

- What the demographic is for your planned or current business location? Is it upscale, college city, middle class? What will they buy, at what price points?

- What's your niche? Are you selling to customers who garden, have children, travel, enjoy art, collect antiques, for example.

- What peripheral items can be included in your niche? For instance, with furniture you could add lamps, pillows and other decorative items to your buying list.

- How much square footage will you have to display merchandise? How high is the ceiling? Does the location present space constraints prohibiting you from buying larger items; items which need to be hung, for instance?

- Do you plan to carry seasonal items -- fall, spring, holiday?

- How much money can you afford to spend on merchandise? Will you pay with a credit card or a check, or will you want credit extended to you?

These are a few of the questions you must ask yourself before meeting with your sales reps or vendors. Remember, they'll all be enthusiastic, presenting you with hundreds of options. So it's best to visit them armed with info to guide you in purchasing.

Getting a handle on vendors -

If you're new to the retail game, it's best to start out looking at samples while meeting with sales reps at your place of business, or their local showroom. Before attending large functions like gift shows. Do this at least six months before you plan opening your business location.

Visiting beforehand, with vendors and reps, allows you to discover their policies. Including shipping methods and average ship time, procedures for merchandise returns, payment methods, to name a few. And very importantly, it gives you the opportunity to check the type and quality of products they offer. And to determine whether or not their products and pricing fit in with your financial plan "to buy". Plus you'll receive a catalog you can review at your leisure.

Take the time to visit as many vendors as meet your needs. Ask for a catalog from each, and provide them with your business card so you can receive updates on sales and special buys. Later you'll have the chance, in private, to review and compare how products and prices stack up with various vendors. Plus have a better opportunity to review prices, services and policies of each vendor.

Today, there are thousands of wholesale vendors and millions of products available. So it's important to do your homework. With a little research, you may discover several vendors offering a catalog of products, covering several distinct niches.

For instance, they may sell a large variety of garden items, small gifts and cards. Starting out with several of theses vendors is good for several reasons. One - because you're able to purchase a variety of merchandise from one company and likely receive it all at once. Which can make planning for displays easier. Plus, you will often receive discounts for purchases over a specific amount the vendor has set. For example, over $1000, over $1500.

Two, it's often considered one order. Almost all wholesale vendors have what's called a "minimum order" you must fill before they'll ship. In the case of companies offering a variety of niche products, many require you only to fill one minimum order, instead of a minimum for each separate grouping. Which could get very spendy, and have you buying more merchandise than you can sell or afford to buy. It's always best to ask, upfront, "What's the minimum?" Or, "Is there a minimum for each grouping?" before getting involved in the ordering process.

When visiting a sales showroom or gift show have the following with you if you intend to order, or expect credit extended: One sheet listing your credit history with other vendors. If you have none, provide some personal credit history. Have a valid ID; your checkbook and/or credit card; business cards.

Creating good vendor relationships

Take time to forge positive relationships with both vendors and their sales reps. Call your sales rep, occasionally. Chat with them about products you're interested in, vendor special buys or upcoming sales. Ask for suggestions about displaying a grouping you've purchased or help with other needs. And don't forget to tell them how much you value their help and appreciate their opinions. Never underestimate the value of good vendor and sales rep relationships. Give these very important people the respect they deserve and you'll have a group of dependable business partners you can always rely on.

Jean L. Serio Copyright 2007. Are you one of the 1.2 million women tired of working the 9-5 grind, sick of worrying about making ends meet? Starting your own business still remains one of the best strategies for providing you financial freedom. Discover how to start your business today, with your own simple, step-by-step Action Plan. To ensure you receive all the details FREE, and learn how you can harness the power of other successful women plus get hundreds of must-have resources you need to start, first sign up for you're Free Report "9 Absolute Must-Do Marketing Tips for Women Biz Owners and Entrepreneurs". Go to www.womensmarketingandbusinessnetwork.com "We help you make it happen."

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