Unleashing Wholesale Business Potential: s
Transforming Challenges into Profitable Solution
Problem
The client was experiencing multiple challenges in running his business, including problems with managing his accounts related to refunds and returns, difficulty in understanding his profits from Amazon, and low profits despite investing a significant amount of capital into the business with traditional wholesalers and distributors. Also, multiple inventory losses left him feeling overwhelmed. These issues needed to be promptly addressed to ensure the success of his business.
Solution
To address these challenges, several solutions were implemented. Firstly, a TIM sheet was created to keep track of the profit on each unit being sold. Secondly, the decision was made to open accounts directly with brands instead of relying on wholesalers and distributors, resulting in a 13% increase in profits. Lastly, the right strategies were put in place to ensure that the client was reimbursed for almost all his lost inventories (highest recovered in one time: £4800). These solutions have had a positive impact on the client’s business, resulting in a significant increase in sales and profits, with an increase in rotating inventory worth over £25000 today.
Outcome
The implementation of these solutions has enabled the client to streamline operations and focus on growing his business, resulting in steady sales growth. The reimbursement obtained from Amazon, which was previously believed to be impossible, has provided additional capital that was invested back into the business, effectively doubling the profits. Direct procurement from brands ensures a minimum cost of goods now. Overall, these strategies have been instrumental in achieving success and driving sustainable growth for the client’s business.
