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    3 Replies Latest reply on Feb 12, 2010 3:51 PM by Niftygirl

    Opening a store, how do I buy?

    milkandhoney Newbie
      I am opening a store, and I am about to start buying merchandise. I have registered for several trade shows where I can do buying and I was looking for words of wisdom/advice about buying. And one of my major questions is when do I pay for merchandise generally? Is it when I write the order or is it when the merchandise gets delivered. I know that deals can get worked out as far as payments, but I am looking to find out how this typically works.
      TIA!
        • Re: Opening a store, how do I buy?
          puzzleman Tracker
          Hello, I sell my products to retailers. What I do is to take a credit card number and charge it when I ship. From talking to several other wholesalers, that is also their procedure as well

          Hope this helps, Jim
          • Re: Opening a store, how do I buy?
            wordperfect Scout

            Hello Milk and Honey.

             

            Well your profile is a bit thin, tell us more about you so we can help better, life is a two way street you know.

             

            Ok, I am based in China and deal internationally, my little experience is that it varies from company to company. As China seems to have weathered the economic crash a bit better than others, some of the better producers here are asking TT in advance and are not negotiable, obviously i don't know the localised USA situation.

             

            So my thoughts would be ask your suppliers shop around, maybe some are offering better terms?

             

            Second thought, if you have cash and are a buyer then you are a lot closer to the driving wheel than you might have been say 20 months ago unless you are dealing with China! so maybe it gives you an edge in negotiating more favourable delivery and payment conditions?

             

            See if you can get consignment, sale or return unlikely but hey, things have changed and it is a new game in some respects. If you are asked for credit card or cash / money up front and you are happy and trust the seller, still turn the screws for a bigger discount, after all, he has your money in the bank whereas you have to sit on stock waiting to liquefy it..... hmmm, maybe i have just mangled the Kink's English there, but you get my point.

             

             


            Good luck

             


            • Re: Opening a store, how do I buy?
              Niftygirl Wayfarer
              You can apply for credit with the company you are dealing with. You might get 30 or 60 days term. Once you are approved, then place the order. Or you pay with credit card when you order, usually don't get a good deal on the prices.
              If you buy wholesale, you might need a resale certificate.

              Good luck