One of the most frustrating things getting started for me was finding vendors and setting up accounts. Especially starting on a tight budget. A good piece of advice one supplier offered was to limit the number of vendors to between 3 and 5. The question is which 3-5 vendors do you choose? We have had as many as 50 accounts with various suppliers over the last 4+ years. It all depends on the product lines you want to carry, but if you truly want to develop a niche, thankfully you don't have to carry EVERYTHING - and anyway, you couldn't!
In the accessory hair industry there are so many vendors it can make your head spin. Many have very similar products and more national exposure with brand name recognition. Others have equally good products and may not be as well known. You have to know your target market and look at the products from the cost and quality perspective as well as if the company has products your customers want.
One of the most important criteria for selection of vendors in my opinion is the quality of their customer service. I have cut vendors for their apparent lack of concern or care for me as a customer. Even if my account is small compared to others, I still expect to be given the same level of service as the big buyers. The reason I have come to expect this is because I do get it from some vendors and not others. So call me spoiled - but if I'm going to make an effort to promote your products I feel I deserve to be treated well.
For example, vendors that call me or email me with their specials, to check in with me or just plain ask how business is going - they get my time, attention and business. These vendors usually offer to send out sample orders with payment terms - like 30 or 60 days to pay. That helps tremendously with cash flow. They are doing their due diligence to increase business for themselves by building RELATIONSHIP with their customers and as the retailer, you need to do this for your customers as well.
The vendor location is also important - the closer they are to you the faster you can get stuff from them.
So just to summarize:
1 - You may start out with many vendors/suppliers but begin to narrow it down to the best.
2 - The best will be the ones that have what your customers want at the PRICE and QUALITY they expect.
3 - The best will also be the ones that care to serve you whether you order one piece or thousands.
4 - The closer geographically the better.
Here is a breif list of vendors that have worked with me thru the good times and bad to help me keep my business going.
Amekor Industries - Distributors of Beverly Johnson and Estetica Designs
Joseph and Eddie are terrific sales reps! The products are fantastic and the prices are affordable. They have regular sales and specials each month and are attentive to our needs.
C&S Fashions - Distributors of Aspen, Dream USA and Nalee Collections
Ashley is a great sales rep. The products are high quality and stylish. They send out regular sample orders and work with us on payment terms.
Westbay Inc. - Sepia & Elegante brands. They make it easy to get orders via COD and accept business checks as payment (so u don't have to run all over town for money orders) and they don't charge extra for COD's either. They are on the west coast so our shipments arrive fast. Beth is a great sales rep & she returns calls promptly.
There are other good ones but these are our top 4.
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