Start to think about running a business and actually running a business in a completely different experience. To run a business is not an easy task, it is full of risks, hurdles, and challenges. If you are able to deal with these hurdles, then you can run your business successfully. Starting a business requires lots of investment, the amount of investment depends on the type of your business.
You need to know, what are you looking for
Before finding a manufacturer or supplier for your product, you need to know what type of products that you are going to serve. You need to know deep about your products and what is the functionality of these products. Are they already available in the existing market or is it a completely new idea? If it is a new idea, identify what are the raw materials it requires if possible then make a prototype of the product. If your product idea is able to fulfill the needs of the existing market then you can start your business with these products.
You can go either for domestic manufacturer or overseas manufacturer
First, you need to decide whether you require a local manufacturer or a manufacturer from abroad. If the raw material required for your product is available cheaply in your country then you can look for a domestic manufacturer otherwise you look for the overseas manufacturer if those raw materials are not available in your region. Location may affect the price of the raw material of your product which may ultimately affect the final price of the products.
Three types of Suppliers
They are similar to the wholesalers but they differ with them such that they deal in fewer quantities and offer a large variety of products and they are not the owner of the products.
They are not the manufacturer, they buy products in bulk from manufacturers and sell in large quantities to the retailers. It is easy to contact domestic wholesalers, and shipping services are faster and cheaper.
Factories are the place where the products are actually manufactured in a large quantity. Approaching the factory may reduce your cost but you need to buy products in huge quantities. It is tough to easily reach out to the factory.
You can search manufacturer or supplier from any of the following sources:
Online Directories: You can go for an online search and get the directories of manufacturers and suppliers. You can look at the profile and choose a suitable manufacturer or supplier from that. You can look for domestic or international manufacturers and suppliers through online directories.
Google: You can go for google search, using this you can search manufacturer or supplier for your product in your regional or overseas areas.
Referrals: By providing referrals you can reach your potential partners. It is suitable to make connections with professionals.
Social Media: Facebook and Linkedin are the best social media that can help you in finding the manufacturers or suppliers in convenient ways.
Local Library: You can take the subscription of local directories and can connect them by contacting them and internally you need to do the conversion with them.
You can choose your manufacturer or supplier by searching in these ways. Apart from these, you can search using other ways.
If you are buying the products from the manufacturers for the first time, you need to check the quality of the product and choose only the qualified manufacturer. Before reaching them you can read their reviews. You can make an inquiry about your product and request a copy of the license. You can ask for the samples to check the quality of the products. You can request a quote about the quantity of the product, the price of the product, and various price ranges for different quantities. Know carefully what are the payment options they offer to you and never forget to maintain the profitability of your business.