{"id":39236,"date":"2021-09-03T13:53:08","date_gmt":"2021-09-03T17:53:08","guid":{"rendered":"https:\/\/www.arffinancial.com\/development\/?p=39236"},"modified":"2023-10-25T18:00:34","modified_gmt":"2023-10-25T22:00:34","slug":"challenges-facing-wholesale-businesses","status":"publish","type":"post","link":"https:\/\/www.arffinancial.com\/development\/challenges-facing-wholesale-businesses\/","title":{"rendered":"Challenges Facing Wholesale Businesses"},"content":{"rendered":"<p><img class=\"size-full wp-image-39237 aligncenter\" src=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2021\/09\/ARF-Blog-09032021.jpg\" alt=\"Challenges Facing Wholesale Businesses\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2021\/09\/ARF-Blog-09032021.jpg 1200w, https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2021\/09\/ARF-Blog-09032021-300x158.jpg 300w, https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2021\/09\/ARF-Blog-09032021-768x403.jpg 768w, https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2021\/09\/ARF-Blog-09032021-1024x538.jpg 1024w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>Running a business in today\u2019s landscape is no easy task, and the wholesale industry is no different. Today we\u2019re taking a look at the challenges facing wholesalers and what can be done to alleviate some of the pressures. Let\u2019s dive in!<\/p>\n<p><strong>Shortages and Surpluses<\/strong><\/p>\n<p>Sitting on either side of the challenge spectrum are issues of supply shortages and supply surpluses. There\u2019s equal issue in not having enough product and having so much that you can\u2019t move it. You either can\u2019t meet your customer needs (thus losing your customers <strong>and<\/strong> money) or you can\u2019t get rid of what you have (thus paying for storage facilities and items that won\u2019t sell). To avoid this predicament, brush up on <a href=\"https:\/\/www.investopedia.com\/terms\/i\/inventory-management.asp\" class=\"broken_link\">inventory management<\/a>. Three inventory management techniques from Fishbowl include:<\/p>\n<ul>\n<li>Just In Time; Only securing goods when completely necessary<\/li>\n<li>Stock Review \u2013 Regular review of estimated inventory requirements<\/li>\n<li>ABC Analysis \u2013 Separating stock into three groups<\/li>\n<\/ul>\n<p>Check out their piece on Inventory Management to learn more!<\/p>\n<p><strong>Is it Profitable?<\/strong><\/p>\n<p>You\u2019ve got a lot going on running a business, so it\u2019s not unheard of that you\u2019d lack a bit of visibility into how profitable your products are. Consider things like storage fees and hidden inventory costs. <a href=\"https:\/\/www.wisys.com\/4-hidden-costs-of-excess-inventory\/\" class=\"broken_link\">Hidden inventory costs<\/a> can include utilities, labor, discounts, and shipping. If all of this is worth the profits your products bring in, great. If not, it might be time to consider sunsetting some of your goods.<\/p>\n<p><strong>Website Woes<\/strong><\/p>\n<p>Business-to-Business (B2B) wholesalers are now up against the world wide web, which has been dominated by Business-to-Consumer (B2C) ecommerce up until recently. The ease and convenience of your standard B2C retailer\u2019s online platform is making it even more necessary to have a top-notch sales site. Wholesalers have to provide great imagery, informative descriptions, clear pricing, and a simple path to purchase. What\u2019s more, there is a higher demand for customer service with B2B digital sales\u2014the stakes are higher here, and common questions need to be answered as soon as possible in order to land a sale. Take a look at your website and evaluate whether it\u2019s performing to its highest potential. Going digital is not the place to skimp, either\u2014if the need is there, don\u2019t shy away from investing in a marketing professional and website development team to do a makeover. Short on cash? Consider applying for a business <a href=\"https:\/\/www.arffinancial.com\/development\/loans-by-product\/lines-of-credit\/?urlsource=blog\">line of credit<\/a> to foot the bill.<\/p>\n<p><strong>Speed, Speed, Speed<\/strong><\/p>\n<p>We just ran through the desire for B2B consumers to be treated like B2C customers, which extends to shipping rates as well. Customers today are so accustomed to the 2-day shipping options they can get from the major online retailers, and it\u2019s difficult for wholesalers to accommodate that. It\u2019s important to have great relationships with manufactures that can partner with you on direct shipping. You may also need to open another warehouse location to but back on how far your goods have to travel.<\/p>\n<p>If you\u2019re in the market for a small business loan, the experts at <a href=\"https:\/\/www.arffinancial.com\/development\/company\/about-us\/?urlsource=blog\">ARF Financial<\/a> are here to help. We\u2019re the leading financial services company that provides short-term, business loans and <a href=\"https:\/\/www.arffinancial.com\/development\/loans-by-product\/lines-of-credit\/?urlsource=blog\">lines of credit<\/a> for business owners nationwide. Our terms are flexible, our <a href=\"https:\/\/www.arffinancial.com\/development\/company\/our-team\/loan-consulting-team\/?urlsource=blog\">team is top-notch<\/a>, and our online application process is quick and easy. <a href=\"https:\/\/www.arffinancial.com\/development\/company\/about-us\/?urlsource=blog\">Learn more<\/a> about us today \u2013 we\u2019d love to partner with your business and help fund your success!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Running a business in today\u2019s landscape is no easy task,&#8230;<\/p>\n","protected":false},"author":5,"featured_media":39237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[128,853],"tags":[398,402,386,863,535,220,213,857,855,856,854,858,859,860,861,862],"class_list":{"0":"post-39236","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-day-to-day-business-operations","8":"category-wholesale-financing","9":"tag-affordable-business-loans","10":"tag-affordable-small-business-growth","11":"tag-business-loans","12":"tag-challenges-facing-wholesale-businesses","13":"tag-equipment-leasing","14":"tag-flex-pay-loans","15":"tag-line-of-credit","16":"tag-wholesale-business-financing","17":"tag-wholesale-business-loans","18":"tag-wholesale-expansion","19":"tag-wholesale-financing","20":"tag-wholesale-funding","21":"tag-wholesale-growth","22":"tag-wholesale-leasing","23":"tag-wholesale-line-of-credit","24":"tag-wholesale-loans"},"acf":[],"yoast_head":"<!-- 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