Don’t only buy from a limited supplier group

Many suppliers – cash and carry in particular – will woo you to try and get you to buy exclusively from them. This is a mistake a lot of shops make.

Although the easy option is to shop with a limited group of suppliers who deliver, it is not the most cost effective. I am not advocating dumping any supplier; I am simply saying that you need to constantly keep an eye out for deals.

Often it is cheaper to purchase some products directly from the major supermarkets when they are running promotions. There are plenty of instances where the price they sell a product for is less than you can buy it wholesale. In these circumstances, buy from them, sell at your normal retail price and increase your margin.

The customer is not disadvantaged in any way and although it is time consuming, it will save you thousands over a year.

Another place to look for deals is eBay, particularly for non-perishable items. Again, it is often cheaper to shop on eBay than the cash and carry even after shipping is included.

The rule of thumb here is, look for deals, and don’t take the lazy option when it comes to stocking your store.

Be on constant lookout for the best deals.

This post is an extract from the e-book ‘So, you want to run a convenience store?’ by Peter Lamb. It is available for free download here.