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221. Managing Vendor Relationships: Friends or Colleagues?
Manage episode 418560736 series 3561585
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For indie retail store owners who run vendor or consignment-style stores, there’s an extra layer of work on top of running a store: managing vendor relationships.
Vendors at these stores normally rent a specific booth or section of the store to display their products. And while each vendor is in charge of managing their inventory, cleaning their area, and merchandising their products…
…the owner of the store sets the boundaries and guidelines that the vendor must follow.
Is it possible for retail store owners to set clear, fair, and consistent expectations with ALL of their vendors? Absolutely. Is it an easy task? Definitely not. Managing vendor relationships is no small feat.
Listen in to learn why the fine line between friend and colleague can make running a vendor or consignment-style store challenging, as well as my top tips for setting clear boundaries with your vendors.
For show notes, visit www.savvyshopkeeper.com/episode221.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website: Retail Business Coach For Brick & Mortar Store Owners • Savvy Shopkeeper Instagram: @savvyshopkeeper Mastermind Group: Master Shopkeepers
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