Sales channels to reach your customers
Selling through retailers, wholesalers and other distributors
Selling through an intermediary may be a more cost-effective way of reaching your end-customers than selling to them directly.
If you are targeting business customers who prefer to deal with large suppliers, selling directly to them may not be a realistic option. Instead, you might aim to supply wholesalers who have existing relationships with those businesses.
If individual consumers buy low value quantities of your products, the best option might be to target retailers that sell similar products. Or you might choose to focus your efforts on a relatively small number of wholesalers who can in turn supply your products to many retailers.
Other distribution channels may also reach your end-customers. For example, technology suppliers often sell to resellers who can configure and install the technology to suit end-users’ particular needs.
Managing your distributors
You need distributors who will value your product. If they sell competing products, what will make them push yours?
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Think about how you set your prices. Distributors will be more enthusiastic if they can make a large profit – but setting too low a price will eat into your own margins.
Effective advertising and promotions can be vital. As well as marketing to the distributor, you can promote your products directly to end-customers. Distributors will be keener to stock and sell products that their customers are asking for.
The key terms of the supply relationship should be covered in a written contract. Key issues might include:
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how much stock the distributor will hold
what the distributor will do to promote your products
how quickly you can resupply and minimum order levels
whether the distributor has exclusive rights to your product (for example, in a particular territory)
what happens if either you or the distributor want to end the relationship
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Side Business Ideas
Home » Business Ideas » Side Business Ideas
August 14, 2014 Frank Bullock Business Ideas Tags: business ideas, side business, side business ideas, small business
Although some time has passed and global economy seems to show signs of improvement, the recession affected all of us badly. Those who were lucky enough to keep their jobs had to suffer from having their paychecks reduced, while those less fortunate lost their jobs and means of supporting their families altogether. However, since then the market has been thirsty for economic rejuvenation, and there is now lots of room for improvement, and for new businesses as well. Thus, side businesses can be a good idea for those who were left unemployed, but for those who need some extra cash as well.
In order to help you get started, we are going to show you some side business ideas that anyone can start, and which can be very profitable. These side business ideas wont make you rich thats for sure, but anyone who has some spare time can get involved, and perhaps make money from a special skill or talent they have, or from doing something they actually enjoy. Perhaps this is the opportunity you needed to put an older plan into practice; thus, from the safety of your monthly fixed income, you can find the resources to start up a small business. The following ideas are relatively easy to start; most of them dont require much or any start-up money or an office space, and you can have them under sole proprietorship. Some of them may require some accreditation or certificates, but these should be easy to acquire.
That being said, here are some side business ideas; hopefully, each reader will be able to find something that suits them among them. We should also mention that many of them are perfect for college students that worry about paying of their loans or making some extra pocket money.
Babysitting This is one of the classics; most of us have already done this, either for money or for younger brothers, sisters or relatives. You dont need any special skills, just being good and patient with children. It would help a lot if you have recommendations from other parents, otherwise all you have to do is put an ad in the paper, or on the Internet and wait to be called for an interview. There are also special agencies which do background and health checks and make sure only the fittest and most balanced people get to be represented by them. While you will have to pay them a commission, your jobs are practically ensured for you because you get official recommendations.
Auto detailing This sounds fancy, but youve also probably done it already if your dad made you wash his car every Sunday. Again, you dont need any certification, just a couple of bucks to invest in detergents, sponges and other types of brushes. While you would generally need a space designed for the exterior and interior cleaning of cars, certain customers will be happy if you go to their homes. You could, for example, specialize in washing and cleaning the interiors of cars.
Blogging Already quite an expanded market, blogging can provide you with numerous advantages. However, you have to make sure youre writing about something that interests people, and that you have a way with words. There are already hundreds of thousands of blogs out there, so people arent going to waste their time on a blog with grammatical errors and poor content.
Manufacturing Because everything is now globalized and standardized, many people feel the need to turn towards things with a more homey feel and aspect. This means you can use your various skills to create something unique and beautiful. You can bake and decorate cupcakes and cakes, you can learn to make earrings and jewelry, you can knit scarves, sweaters or gloves, you can learn to make candles,candy, cookies and so on. Depending on what youre good at, you can offer cheaper services. You could, for example, offer computer assistance, and most of the times you wont even have to leave your home.
Personal trainer If youre athletic and you know a lot about exercising, fitness and nutrition, you can become someones personal trainer. That way, you will get paid to do what you normally do: work out and look good, while also encouraging others to lead healthy lifestyles.
Dog walker Walking other peoples dogs is another common and lucrative business, and it is probably one of the easiest side business ideas to achieve. If you know of some neighbors who need someone to look after their dogs you can offer your services, and if you already like animals you will also have fun.
These side business ideas are so simple and effective that anyone can perform them. If you didnt find a suitable one, perhaps they inspired you for something else; moreover, we shall come back with a second article on the subject in the future, and show you other side businesses that you could have.
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Side Business Ideas Part II
Small Business Financing
How to Become an Entrepreneur
Disruptive Innovation
How to Come Up with Successful Business Ideas
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