Finding the best supplier for your Amazon store requires diligence, knowledge and some bargaining skills. It is a skill that every entrepreneur must develop and hone.
Sometimes, even an experienced Amazon store owner will have a hard time finding a trustworthy and reputable supplier. In order to help you make this extremely important business decision, we have compiled 7 tips to ensure that you find the right supplier as well as nurture a mutually beneficial relationship with them as you grow your FBA store business.
- Check the supplier’s track record
Is your prospective supplier a trustworthy manufacturer? Read up on feedback and what other FBA sellers who have dealt with a particular supplier have to say about how they do business on sites like Trustpilot. You want to find a supplier with a strong history of professional dealings.
- Keep all communications transparent
Communication is a two-way street. You intend to deal fairly with your suppliers, so let them know that you expect them to be honest, direct and transparent as well. When your communication starts this way future negotiations will be much easier and more advantageous for both parties.
Remember to be tactful and respectful. Build a good relationship with your FBA store supplier. This will enable you to speak more freely about what your business truly needs, thereby allowing you to set the foundations for your future agree ments.
- Know your budget
One of the first steps to successful negotiation with a business partner is to understand the amount of money you can invest in this venture. It is always wise to stay within the limits you have set for yourself rather than push through with a deal that stretches you too far.
Ask your prospective supplier what it will cost them to manufacture the product. By knowing ahead of time what the actual value of the product is from the outset, you are placing yourself in a stronger bargaining position.
- Learn the industry jargon
Knowing the ins and outs of as well as the language used by the industry will place you in a better position to understand how your supplier operates, including their strengths and weaknesses.
If there’s anything you don’t understand, don’t hesitate to seek the guidance of your prospective supplier.
Don’t limit yourself to just one or two suppliers – speaking to a wider range of suppliers will improve your knowledge of the industry, including production cycles, pricing and other parts of the process.
- Put yourself in your supplier’s shoes
Another important negotiation technique is to be able to put yourself in your supplier’s shoes and think like them.
Show them that like them you are eager to sell their product as much and as often as you can. Show them how you’re going to do it. Present proof and facts that you are capable of selling to the right demographics. When the supplier is convinced that you can really make good on your promise, they will be more than glad to enter into a lasting partnership with you.
- Think win-win
Understand that entering into a contract with your supplier is not a one-sided relationship. It is about mutual gains and benefits for both parties. A well negotiated agreement will focus on mutual benefits and build lasting relationships with reputable suppliers.
You don’t have to do this alone. You and your prospective partner together can brainstorm ideas that would lead to your mutual advantage.
- Get multiple quotes from different suppliers
One of the most important rules for finding suppliers for your FBA or Amazon store is don’t get stuck with just one supplier. Instead get multiple quotes from different suppliers and let them compete among each other in terms of who offers the best price and services.
Needless to say, let the supplier know that you are getting quotes from other suppliers as well. This will spark their competitive nature and then observe how much better they treat you.
Final Thoughts
Finding the right supplier is just one facet of running a successful FBA store (albeit a very important one). Another important concern is whether you’re capable of collecting your Amazon reimbursements in an efficient and timely manner.
Being an Amazon FBA seller puts you in a dire situation whenever Amazon loses or damages your inventory. If you’re looking for a way to get back the thousands of dollars Amazon owes you; you are not alone.
The fact is Amazon owes 99 percent of sellers money.
The policies Amazon has in place for getting your money back in those situations are vague. They make you jump through hoops and loops; but even doing all that is no guarantee you’ll get your money back.
You need someone with years of experience handling your reimbursement claims for you.
So now there’s no need for your capital to get tied up in lost or damaged inventory. The solution to your problem lies at your fingertips.
Seller Investigators manually submits and manages these requests on a weekly basis, making sure damaged and lost goods are identified, tracked and credited to your account. You receive bi-weekly reimbursements from Amazon without having to do a thing!
Our team can do all the legwork for you in collecting the money Amazon owes you, so you can focus on taking care of your business.
