Whether it be
manufacturing your own product or finding suppliers to purchase wholesale from,
they aren't always easy to find. Here, we're going to look at the basics of sourcing a supplier for your next project.
We will look at some places to search, how you should approach them and what to
ask.
1) What Are
You Looking For?
There are a
ton of helpful resources to be found online just by searching Google. However
before you begin, there are a few things you should know and decide. First, you
should determine what type of supplier you're looking for. This will help
determine the terminology you need to use in your research. There are two
options, with the most common being:
1) A manufacturer to produce your own product idea
2) A supplier, who may also be a manufacturer,
wholesaler or distributor to purchase already existing brands and products
2) Domestic
vs. International Suppliers
A classic
question when looking for suppliers if you plan to manufacture or wholesale is
whether you want to source domestically or from overseas. You likely already
know that it’s almost always cheaper to source your products through
International suppliers but there's a lot more to that decision than just the
upfront investment and costs. Here, some advantages and disadvantages:
Domestic
Sourcing
Advantages
- Higher manufacturing quality and labour standards
- Easier communication with no language barrier
- Easier to verify reputable manufacturers and faster shipping time
- Greater payment security and recourse
Disadvantages
- Higher manufacturing costs
- Less product choice
International
Sourcing
Advantages
- Lower manufacturing costs
- High number of manufacturers to choose from
- One-stop services have made it easy to navigate suppliers
Disadvantages
- Lower perceived quality from customers
- Language, culture and communication barrier can be difficult to navigate,
- Difficulty/costly to verify manufacturer and visit on-site
- Longer shipping time
3) Where To
Begin Your Search: Directories
Naturally, the
internet is the best place to start, but there are a few places in particular
that can help with your search. Below, we have listed out a few of the most
popular ones below for both domestic and overseas suppliers:
Online Domestic
Directories
·
MFG
·
Kompass
Online
Overseas Directories
4) Google
Ranking
How can you
find suppliers on Google? For the first time ever, you’ll need to explore page
ten of Google search results, and beyond. You'll also want to use a variety of
search terms. For example, words like wholesale, wholesaler and distributor may
be used interchangeably so you should search for all of them. It may help
you make yourself familiar with Google's search shortcuts to improve the quality of your searches,
thus the results.
5) Libraries
You may also
want to consider dusting off your library card and heading to your local library. Many libraries pay
monthly subscription fees for online business and manufacturer directories that
you normally wouldn't have access to, or you would have to pay a large amount
of money for, like the Scotts
Online Business Directory. These directories contain profiles for many
manufacturers, wholesalers and distributors in North
America , depending on the exact directory. Make sure to give
your local library a call ahead of time and ask them if they have access to
these types of private directories. For larger libraries, you may need to chat
with the business and technology department.
6) Strong Referrals
Some of the
best leads can come from referrals by
friends and family. Social networks have made it much easier to get the
word out so make sure to use these channels. As you do start to uncover
suppliers, even if they aren't the right fit for you, be sure to ask them if
they can point you in the right direction. Being in the industry means they
will likely have great contacts and many would be more than happy to refer you
to someone that might be a better fit.
Other Tips
Another
possible way to search for product suppliers is by searching for your products
by their NAICS code. NAICS is
the North American Industry Classification System, and pretty much every single
industry and product you can think of is attached to a NAICS code. Sometimes
manufacturers and suppliers may list their products by the NAICS code which can
make your product manufactures and suppliers easier to find, especially if
you're using professional directories. The NAICS directory can be found at
your local library or on the Internet at: USA
- NAICS Code and Canada - NAICS Code.