When in the process of opening a retail pop-up shop, one of the most essential steps is the choice of the right suppliers. Finding the best suppliers for your popup shop is one of the principal determining factors of the success of your business.
That is why we have partnered with Ankorstart, a programme created by Ankorstore, Europe’s leading B2B marketplace.
Ankorstart is a free and non-binding support programme that helps future retailers prepare for their shop opening in the best conditions, thanks to the support of more than 20 retail experts.
You can join the Ankorstart programme, without obligation, to be guided in your popup shop start-up by a dedicated retail expert.
By joining the programme you will have the possibility to be supported on your business needs, including guidance on supply management, assortment management, business planning, and much more.
To get you started on how to choose the right supplier for your popup shops, Ankorstart retail experts have outlined five steps you can follow:
- Start by choosing product families and desired products
The first step in choosing the right suppliers is defining the product families and the types of products you want to sell in your pop-up shop.
How diverse would you want your product assortment to be? Do you have a specific niche you would like to focus on? This will determine the types of suppliers you need to work with. Based on the product families you want as part of your assortment, you can research possible suppliers. This will help you narrow down the selection of possible suppliers for your popup shop. By participating in the Ankorstart program, you can benefit from the help of a retail expert that would be at your disposal to support you in finding suppliers based on the product categories you wish to sell in your popup shop.
- Consider product values and ethics
It is fundamental to work with suppliers that share your same values and ethical standards. This can have a significant impact on the image, and ultimately the success, of your popup shop.
In choosing your suppliers you can take into consideration the material used for products, the manufacturing process and the environmental standards they follow.
You want to work with suppliers that have transparent practices and are committed to sustainable and ethical standards. Ankorstart experts can support you in finding suppliers that meet your values at best, thanks to their expertise in supply management and product assortment.
- Consider supply time and cost
Another fundamental element to consider when choosing a supplier for your popup shop is the supply time and cost. It is crucial to work with suppliers who can deliver products on time and in a cost effective manner.
When it comes to supply time, you should take into account the lead time required to order products or to manufacture them, as well as the necessary shipping time. Be sure to factor in import fees when you are working with international suppliers and heavy shipping fees when ordering high weight products like wine bottles or furniture pieces.
As for the shipping cost of the suppliers, you can compare the different options available on the market, still keeping in mind that the cheapest option might not be the best one, especially if it implies compromising on the quality of the products you are purchasing.
Ankorstart experts are at your disposal to advise you on how to make the best of the shipping fees and manage orders to have the products in your store at the right time.
- Consider the product design of the supplier
The design of the products you choose can set your popup shop apart from other competitors. Select your suppliers keeping in mind some design guidelines you need to keep the visual identity of your popup shop consistent. Look for suppliers who can provide unique and eye-catching designs that appeal to your target audience, while ensuring product quality and durability. Ankorstart experts can help you find suppliers offering quality products that match the design identity of your popup shop.
- Consider recommended prices
Lastly, you should take into account the recommended wholesale and retail prices of the products offered by your suppliers. Choose suppliers considering the profit margin you can expect by selling their products.
Also, be sure to select suppliers that offer prices that match your popup shop price point. While it is important to diversify your product assortment based on prices, the price point of your popup shop should be kept consistent. Ankorstart coaches’ expertise include assortment management based on desired price and margin, by signing up to the Ankorstart free program you can receive guidance on this topic.
In addition to these 5 steps, you should be sure to consider the general sales conditions of different suppliers, regarding for instance delivery, payment, and withdrawal periods. Clarifying these terms in advance allows you to avoid any future misunderstanding or dispute.
Overall, with the right suppliers, you can offer high-quality products that appeal to your target audience and help your business thrive.
That is why we advise you to discover more about the Ankorstart programme, you can sign up today and receive free guidance on the supply management of your popup shop.
The programme mission is to help passionate entrepreneurs achieve their dreams of launching and managing a physical or online business in the best conditions.
Join the Ankorstart community of more than 24,000 retailers to obtain dedicated free coaching and resources to help you successfully launch your popup shop.