Business Plan

Suppliers

When you set up shop for your new business it is important to comparison shop around for the best products to offer to your customers. Keep an eye on your bottom line – as Yoda might say "the cheaper your cost the more margin for profit you have." On the flip side, beware of buying on the cheap. If your goal is to maintain a standard of quality for your customers, then you should consider the quality of your product.

Instructions

Create 2 tables that list potential suppliers of products that you will sell or use in your business (an example is shown below).

Your tables must include the following information:

  1. Company Name
  2. address
  3. phone
  4. web address
  5. primary product offerings for your company
  6. Rating

 

Don't forget to cite the suppliers on your Works Cited page – see Reference Guide

Sinker and Rogie's House O' Wax - An Album Emporium Supplier List

Company Name

Address

Phone Number

Web Address

Rating

Alligator Records

2167 Diversy
Chicago, IL
60014

1-888-657-1259 http://www.alligator.com/index.cfm 4 stars
Product Offerings Classic blues offerings including all vinyl packs dating back to Robert Johnson. Company specializes in distribution of both major and minor blues artist, compilation albums, current majors, as well as cds and tapes. As a special feature this company allows buyers to purchase products traditionally through a salesperson or to buy online. The sales department can be contacted at sales@allig.com.

Rating – for each supplier, rate them on a 1 – 5 scale. Think of this in the same Amazon uses their rating and review system. This is intended for you to find the best suppliers for your business. You will need to find customer reviews and compare them to another supplier. Use your best judgment. Apply this formula:

  1. 5 = excellent prices/high quality and top reviews
  2. 4 = good prices/good quality and good reviews
  3. 3 = fair prices/fair quality and mixed reviews
  4. 2 = highly priced/fair or poor quality and mixed/poor reviews
    • Note that you may designate this as a low price range, but rate it as a 2 because the quality and reviews are poor
  5. 1 = not an option at this point

Save as "Suppliers" in your Business Plan folder

 

Example from Liv Ryerson '15