In an ideal world, you’d have the time and resources to tackle every project that comes your way. But since this isn’t the case (you only have so many employees on your team and working hours in a day, after all), there comes a point when forming a wholesale partnership with a third-party fabricator may be your best option.
Because it ensures that you can still deliver quality work in a timely manner, strengthening the relationship you’ve worked so hard to build with each of your clients.
At this point in time, you may be unable to fill large orders, create specific types of signs, or customize displays according to a client’s exact specifications.
But by forming a wholesale partnership with a reputable sign shop that can, you’ll have the opportunity to exceed client expectations and further grow your business.
If you’re still unsure as to whether forming a wholesale partnership is right for your business, the following 5 indicators should help.
5 Indicators Your Sign Shop May Benefit from a Wholesale Partnership…
1) You have an idea for a new product offering but lack the space to create it in-house.
In order for your business to grow, you need to take it to the next level by expanding your product line (or simply improving upon the products you already offer).
However, if your facility lacks the space necessary for new equipment and materials, it can be difficult to create any new products in-house.
And that’s when a wholesale partnership can prove valuable.
You can search for a third-party fabricator that already offers the product you want to provide your own clients. Or, alternatively, you can work with your partner in developing said product, introducing an additional source of revenue for both parties.
2) You frequently receive requests for products you don’t offer.
If you’ve been contacted by clients in the market for specialized products you don’t offer, such as California restroom signs or assisted living memory boxes, you’ve undoubtedly experienced a significant amount of disappointment in having to turn them away.
Doing so not only costs you sales in the short term but also increases the likelihood of losing clients for good.
But that’s just another way in which forming a wholesale partnership with an outside fabricator can help.
Once you’ve established a relationship with another sign shop that can produce the specialized offerings your clients are looking for, you can outsource orders instead of missing out on a sale.
3) You’re unable to guarantee quick turnaround times for clients.
Depending on your current workload, you may not have the hours or manpower to meet the quick turnaround times your clients have come to expect from your business.
And when that’s the case, you run the risk of losing a client to a competitor that can fill the order as soon as possible, which then affects your revenue and reputation.
Fortunately, a wholesale partnership gives you another option during busy periods.
If an order comes in when you’re already struggling to design, fabricate, and deliver the signs you’re currently working on, you can enlist the help of your partner to ensure everything is completed in a timely manner.
4) Your staff is overworked and stressed out.
There’s no greater threat to a business than a team of overworked and stressed-out employees. If your staff members have been forced to work long, grueling hours in the shop, it could have a negative impact on your business in a number of ways.
- Displays could be late, incorrect, or poorly made, as tired employees are more likely to make mistakes.
- Employees could get fed up with the long hours and choose to quit, leaving you with the same amount of work but not enough manpower to get it done.
- The overtime pay needed to compensate employees for their extra efforts could leave your business in financial jeopardy.
However, having a wholesale partnership can lessen the load and keep your employees working at top performance.
Outsourcing some orders to your partner can allow you to keep up with your clients’ requests without putting additional strain on your staff (or your finances).
5) You want to increase revenue without purchasing expensive equipment or training.
As the old adage goes, “You have to spend money to make money.” And this is true for any business.
If you want to boost revenue, you need to bring on new clients, expand your product offerings, and increase the number of orders you complete. However, this can prove difficult when you don’t have the means to invest in new equipment, materials, training, or space.
Luckily, this issue may be easily addressed by forming a wholesale partnership with a third-party fabricator.
With that partnership, you can offer new products that can’t be made in-house, take on more orders in a given time, and focus on marketing your business to potential clients.
Additional Benefits of a Wholesale Partnership
Even if the points above resonate with you, there’s still a chance you’re not convinced that a wholesale partnership would be advantageous for your business.
In that case, consider these additional benefits:
- You can improve your own business’ reputation by working closely with a reputable third-party fabricator.
- You can get a discount on orders by partnering with a sign shop that has a wholesale program in place.
- You can gain further insight into the sign industry by taking advantage of your partner’s knowledge and expertise.
When it comes down to it, you have a lot to gain by entering into this type of business relationship.
Forming a wholesale partnership with a third-party sign fabricator can have a significant impact on your business, allowing you to better serve your clients by providing new offerings, quick turnaround times, and high-quality work.
If this type of partnership is appealing, learn more about becoming an Erie Custom Signs Wholesale Partner and reaping the many benefits that go along with it, such as exclusive discounts and more.