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Sunday, June 15, 2008
Small Guys Effective Ways to Succeed in a More Competitive Market from DollarDays

Today is one of the best times ever to open an online store. Technology levels the playing filed and the internet open up worldwide markets.
  • Small and mid-size retailers can compete!
  • Think small and take advantage of true closeouts.
  • Go with unique products that have limited supply.
  • Develop relationships with small manufacturers.
  • Be agile when it comes to overhead.
  • Simplify the shopping experience.
  • Customer service and personal attention!
Dollardays advice for dealing with vendors:
  1. Be prepared - know your customer - know how much to have to spend
  2. negotiate with the right person
  3. Room to maneuver
  4. Don't give away too much too soon
  5. Be prepared to say "No"
  6. Make your word your bond
Top 10 Smartest Buying Habits
  1. Do your buying from your own location
  2. When going out of town to buy, don't overload your schedule
  3. Never leave home without your open to buy
  4. Never buy an item the first time you see it
  5. Always have a digital camera
  6. Be honest and ethical with your suppliers
  7. Confirm your agreement before signing an order
  8. Keep a supplier notebook for top vendors
  9. Print your own purchase orders
  10. Terms you negotiate can become more important then the price
Top 10 Questions to As Vendors
  1. Who else does well with your line
  2. What are your order minimums
  3. Promotional or off price merchandise
  4. Can I reorder these goods
  5. Do you have a catalog or color photos
  6. Do you have have a website
  7. Co-op advertising
  8. Can I exchange non selling goods
  9. When will the goods be delivered
  10. What are the terms of payment
Wholesale Portals To Help Find Goods
  • wholesalecentral.com
  • closeoutcentral.com
  • gowholesale.com
  • wholesale.com
  • wholesale411.com
  • wholesale.com
  • toptenwholesale.com
  • getthatwholesale.com
  • wholesalehub.com
  • wholesalegopher.com
  • wholesaleramp.com
  • apparelsearch.com
  • business.com
Marc Joseph, President/CEO of DollarDays has written "The Secrets of Retailing... How to Beat Wal-Mart"


by: Shawna Seigel



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