5 Things NOT To Do When Starting A Wholesale Distribution Business | LaceUp Solutions DSD Software
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- čas přidán 8. 07. 2024
- Hey LaceUp Community!
Today's video will discuss the 5 things TO NOT DO when starting a wholesale distribution business.
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I like it that your tips are no BS tips. Love it. Straight to the point. Thank you
#1 rule in business, be mindful of whom you receive advice from.
This is a really great video! Short and straight to the point. Well done!
Thank you so much for your support.
Great job. All truth and such great sound and solid advice.
If your thinking of a business and you’ve watched this, it’s worth listening to the T.
I’ve had retail and wholesale distribution for 25 Years. He hit everything on the head.
Mahalo
David, I appreciate this comment. I'm glad that someone with your vast experience agrees :) Have an amazing day today
Many thanks, much useful
Good to know I am on the right path of what not to do! I am very slowly building up a yarn distribution business of international yarns for the Midwest USA. Yarns we can't get here local stores or the international shipping charges are to much for folks to pay. Got lots of friends who do fiber arts. Starting out small in my home and plan to rent a small storage unit to house the yarn as I get it in. Have a small house and no garage so space is very limited.
This is an amazing story. I'm so happy to see you starting this way with your distribution business. I wish you the best in this endeavor and if you have any questions please feel free to reach out :)
Thanks man I’ve been using elbow grease for 4 years In the restaurant business, now I’m currently selling small amount of different products on 4 different websites along with my own products I’ve developed and scaling up one step at a time into distributing.
Amazing my friend. Best of luck in your endeavors and god bless!
Thank you so much. It's a very good advice
Short but crisp. Lovely mate !
Thank you so much for your support. It is greatly appreciated.
Very informative. Thank you.
I agree totally with your model. I'm opening my own distribution business and the product is unique in the world coming from Europe against covid. I'm investing very small. Despite having no competition, but I want to start small
Hi! Did the business work for you? I hope that yes
Yessir thanks for the tips. Montero’s distribution out of Los Ángeles County 🇲🇽
it was great and practical.. thanks
100% agreed with you
very interesting quick and practical
sound advice thank you for this information.
Very great video.
Good Video Content. Excellent Advise
Thank you so much. You cleared my doubts. Appreciate it buddy. 🙏
Appreciate your comment
Im in sales. And I totally agree w/ you. And am planning start my own 🙂
That's amazing. I'm very excited for you to start your own! Congratulations
I agree your point I have started business exactly following this rules
Amazing. Super excited to see you following these rules. I look forward to your success.
@@Laceupsolutions your point is very valid friend. Regard from India
Excellent advice in only five minutes! Thank you
Amazing. Happy that this helped you. God bless.
@@Laceupsolutions This advice applies to any business owner in any industry.👍🏽
Your video is very informative
I agree, very realistic, thank you!
You're very welcome!
Awesome!!
Thanks Bro 👍
very honest video! thankyou
No problem thank you for your message here.
Wonderful video..to the point
Happy it helped. Thank you for your support :)
Excellent information brother this is exactly what I did when I started my business in 1993 still going strong today Killing it With 0 employees just some help with my wife
This is INCREDIBLE. Congratulations on the multi decade long success! Happy you enjoyed the video :)
0 employees for 30 years and going strong? May I ask what your business is?
totally correct, I started the wholesale business 8 months ago and all those points are spot on and yes it works...
Appreciate you and your comment :)
Could you plz help me I want to start wholesale business
@@nagsbro3503 Great question. What part do you need help with?
@@Laceupsolutions wholesale men's clothes distribution
@@nagsbro3503 Awesome. What aspect of getting started are you unclear about? Is it the business model, the product, the warehouse, the employees?
Well said, any tips for starting a food distribution business?
Really helpful video, thanks my man
Appreciate you
Wise advise ji. Thanks
Thank you so much for your support here. I appreciate it.
Hello my name is Caraldean, i live in the paradise island that is jamaica 🇯🇲 my husband and I are now looking to do distribution, farmers for over 15yrs doing distribution for over 5yrs now looking to employ our first employee for the distribution section and seeking space. These 5 Do nots are spot on.
Amazing comment. Thank you so much for taking the time to participate in our community. I wish you the best with your first employee. God Bless
Thank you for your advice. I was just about to do all those mistakes before i watch this video..
I’m super happy that it helped. God bless 🙏🏻
Good for you and good luck I have been following these principles almost 30 years ago and still going strong today.
seems the words come frm experience great bruh...
Thanks for your comment. I appreciate it.
I’m also an entrepreneur so I can tell it’s the right move
Thank you so much for taking the time to comment. I appreciate you Lorenzo
I total agree with you but my challenge is that some people do not want buy from me because they are at same location, they prefer buying from the company directly irrespective of the distance.the same treatment given to them at the company.
the company keep increasing my target every year.
"GUESS WHAT JOHNNY? YOU"RE NOT CUT OUT FOR BUSINESS!" haha TYSM FOR YOUR CANDOR!! BIG LIKE! NO--BIG LOVE! and I subscribed to your channel! TYSM!!
LOVE YOUR COMMENT! :)
Great points made here, all signal.
Have you heard of distributor to distributor relationships? I have come across an oppty for this arrangement where I’m a distributor in Fl for an exclusive distributor in MI.. makes sense? Also totally agree with underestimating warehouse space and allowing demand to force the business to grow into larger spaces. Appreciate any advice! Keep up the great content! D
Appreciate you :) I have heard about distributor to distributor relationships. As long as you have some sort of exclusivity in this territory, and the is good, I think it is good.... Best of luck on your endeavors!
@@Laceupsolutions … and the ? Is good? My margins?
Thank you
@@dric30 Sorry. Yes your margins haha and the product itself.
great advices
Thank you for your feedback
We appreciate your support
What steps do I take to be able to purchase food products directly from the vendors or manufacturer?
Great video, good job. I have small distribution business and I am wondering if you can recommend any online platform for inventory and invoice management.
Hi Dachi,
I'd love to see how I can help you. Our company supplies both of these solutions. Could you please reach out to me at mickey@laceupsolutions.com? We will schedule a meeting to see if we are a fit to help you.
I set up a business and its going really good ; but customers need more of my stock and i dont have enough return to increase the po’s to double . Is it okey to get investment to increase the purchases ?
Hey sir , i currently distribute furniture and have 1client. What’s the best way to acquire more clients/contracts
In regards to your first point, does this include going to a bank for a business loan?
I think that a business loan is necessary when you need the capital to grow the business. I wouldn't take a business loan to start a new business if you haven't proven that you will be able to sell the product. It all depends what you are going to be using the load for. LMK if you can be more specific and I'll provide some feedback.
What if I already have a distributor and customers lined up? I know of a company that wants to unload a portion of their business because they have out grown the small-scale distribution.
What if you already have good number of customer and the supply and demand ratio is not proportional anymore.
We're having a lot of cancel order because we don't have enough stocks available. I think asking investment for that additional stocks is ok? Right?
Great question. Are you short on stock because of supply chain issues or are you short on stock because you don't have the capital to fund purchase orders? If you can fund the PO's through an investment, and have a clear path to pay said investment back, then you don't have any choice but to take the investment.
Hello, looking to sell my businesses this year and venture on to creating a product and selling it online (to start). Where should I start gathering knowledge? Can you recommend any books, videos, or forums that might help.
Great video btw!
Thank you so much for your comment. Can you give me an idea about the product that you'd like to create? That way I can pinpoint the best content for you.
@@Laceupsolutions for example a body lotion
@@Rawpimp I would go and watch everyone on CZcams that has ever started a successful B2C business on Amazon, Walmart, ETC. I think that the PPC advertising will be important here as well as the content that you create, and last but not least the manufacturer that you partner with in order to produce your product.
Great video. Question, How much should I buy a bottle (33cl) of beer from the manufacturer? I just need a guideline figure.
Great question. I think what you need to look at is how much should you sell the beer for first before looking at how much to buy it for. Please check out the market. I would strive to make 30-40% gross
Hi! Nice video. I want to start this kind of business can you suggest something to sell as a beginner? Thank you
I would look for a product in a niche that you have a passion about or in a niche that you have experience in. Distributors make money, but they do so at low profit margins. Your ability to be innovative with your product will determine your success and growth. I'm sorry I can't recommend an exact product because there are so many alternatives.
I'm staring a small business we are hitting right on almost every point you made. I am trying to find a small pos inventory system I can purchase out right to keep inventory and manage billing.
Do you have a suggestion?
Hi James. Thank you so much for reaching out to me. In order to do this, you will need a combination of things.
1. For accounting and track of payables/receivables you will need QuickBooks.
2. For Mobile POS you will need something like LaceUp
3. For Warehouse you will need a warehouse management system or scanning system which we offer but I don't know if it will generate enough ROI for you.
Let me know James if we can schedule a call to provide a better recommendation based on your exact situation. I can be reached at mickey@laceupsolutions.com
@@Laceupsolutions I have qb already
@@JamesSmith-ct7qx Awesome James. If that is the case, then I think that we can help you with the system to keep inventory and billing. Could you please send me your contact? That way we can discuss in more detail.
Well how am I going to start small in my garage or in a storage unit if I want to sell Plumbing and HVAC products? I work for a Wholesale company that sells those products and it's in a warehouse. They stock all of their Copper pipes inside and Drainage pipes outside.
Hi Zain,
I think that the point here is starting small. It may not be a garage, it may be a storage unit or small warehouse. The key is to let your sales dictate the size of the warehouse. I know alot of businesses that started with the large warehouse, and couldn't sell a penny.
Ok thank you very much Mickey. What system would you recommend me getting when I start my business?
@@zainguitarman great question. It all depends what system you are referring to. If you need an accounting system, then you would get a QuickBooks Online. If you need a mobile invoicing piece, that would be us. Let me know what you are thinking for the system so that I can point you in the right direction.
Thank you will do
Do you have a "do" video? Thank you
Great question. No. I will make one.
Hi kinda off topic but how many products would you recommend a food distributor start with ? It's hard too make money and sometimes even sales without being able too offer more of a line up.
Just saw this comment. It's hard to say because I don't know what type of distributor you are and what your product line looks like. Could you offer a few more details?
@@Laceupsolutions I can tell you a little bit but id love too take the time too buy you a meal and discuss more details. I am local in your area and probably know afew of the same people. I mainly made my money as a jobber grabbing everything from, pipes , too candy , even tobbaco at one point , I had exclusive lines. I had fallen out of that line up due too personal reasons id love too tell you. And recently too give you a better idea of been trying since covid too transition into snacks , candy, chips , the markets changed alot for better and worse. I sell alot of kidsmania, airheads extremes, Jolly rancher fruit chews , and peg bags of candy , trolli , haribo etc. The market changed alot since I was bigger its not the same beast its bigger, I try focusing on one thing and I end up not being able too get it or having too stock pile too make it , I've looked into completely new lines of products too try but I've sort of got paralysis analysis on what too choose next. I've sold almost everything you'd find in cwa, nepa , etc. I've even worked for a distributor at one point. So I've seen alot of it I've even been too tradeshows for gas stations and for smoke shops. I've watched your channel for awhile now, long time fan first time comment.
Sorry too make it so long but I felt I should give you and maybe the viewers some background 😉 🤔
@@alexlarsen1392 Wow. Appreciate this comment very much. Please feel free to reach out to mickey@laceupsolutions.com to arrange a call with me to discuss these issues :)
I want to start fulfillment business . I need an advice. What equipment should I have?
Hello, I just saw this message. Thank you so much for reaching out. Please let me know a little more about your fulfillment business idea and I'll see how I can help.
An email where we might contact you will be great.
I'm about to start my distribution company, I import my products
Do more vedio
I have 3 in the pipeline coming very soon. Thank you so much for your support
I want to do this all online with my woo commerce store, how do I do that??
Awesome!!!!!!!! Can you link your website here so I can take a peek or are you asking about how you would go about putting it together? Thank You :)
@@Laceupsolutions Yeah I'm asking how can I put it together??? TYSM
@@ImWORTHITINC Awesome. Couple questions... Do you have a product yet? Do you know how you'll be doing your fulfillment? The woo commerce piece is quite easy, but gets harder depending on what you want the website to do and aid you in fulfilling the order and ultimately invoicing the client. If you let me know a little more about your business, I'll help you out :)
Found a small shop 700 sq feet 10k a year cheap
Congratulations on this!!!!!!! Wishing you the best on this business.
Thanks I can sell 2 million of material at 17% all my customers so going on my own I have to start small 30k a month for 3 months try collect money by 30 to 40 days is my plan. Small and liquid
I have a 1300 sqft shop. Need product
I’m not shy to talk I just have a stutter which puts me down
Same bruh
Whatever it is as entrepreneurs we have to get over it
Embrace it please. My friend is a stammers but is an active public speaker: he has learned how to work around it, talk slowly etal
Buy an existing one
100% Facts