How Independent Store Owners get Started with Electronics Buying Groups

Independent store owners have a variety of benefits to be gained by becoming members of an electronics buying group. These benefits include being able to buy products at prices low enough to compete with big box stores, the potential to negotiate favorable
payment terms, and access to a wider variety of products. The keys to maximizing the results of membership in an electronics buying group lie in the advance work that must be done prior to becoming a member.

Independent dealers should take the following steps on the path toward becoming a member in an electronics buying group:

1. Know what you want out of the arrangement – Defining your goals in terms of what you want to accomplish as a member will allow you to determine the manufacturers you want to work with, the products that need to be included, and the order sizes that you will need to succeed.
2. Get to know your potential partners – Do a little digging on the buying groups where membership is being contemplated and the manufacturers they’ve contracted with to see if what they’re doing matches with your business plan.
3. Call around – It’s amazing how much you can find out by making a few phone calls, especially if you can find current members of the electronics buying group that are running the same type of plan that you want to execute. These calls can reveal the strengths, weaknesses and potential deal breakers that exist with the buying group the manufacturers. Much like a wedding, it is way better to find out about major issues the day before the contract is signed than the day after.

Once you find the right fit, join that electronics buying group. These groups aggregate the purchasing power of their members to gain product discounts, rebates, and favorable terms from manufacturers. The aggregated purchasing power of a buying group gives its members distinct advantages that are not available to independent dealers acting on their own behalf. An example of this type of buying power would be Nationwide Marketing Group, which has over 3000 members and over $12 billion in annual sales.

With some advance work and by following the steps listed above independent dealers can gain major advantages by becoming members of an electronics buying group. For more information, visit: http://www.nationwidegroup.org/

More Information:

Nationwide Marketing Group works beside thousands of appliance, furniture, electronics, specialty electronics, custom installation and rent to own dealers helping them grow their businesses and their bottom lines