Office Equipment Supplies
If you are looking at entering into office equipment supplies industry, be warned that competition is tight. Online retailers, supercenters, and warehouse clubs have a strong hold on the overall market.
The three largest players account for the vast majority of the revenue. The remainder is occupied by many small companies.
The concentration of power in the industry is becoming increasingly focused. External competition from less developed nations is pushing the smaller companies out.
Office Equipment Supplies Business
Be careful when entering into this industry, especially if you are considering an office equipment supplies business for sale. With such tight competition, it may be difficult to survive for long.
Office supplies will always be in demand. However, the real trick is getting your name in front of people. Most people know who to go to when they have a need.
If you are considering purchasing one of these companies, remember you will need much inventory. Think about hiring an accountant to help you estimate initial costs.
Create a thorough and highly detailed plan. Hire an attorney if you think you need additional help. The plan will be incredibly helpful when you are looking to secure financing.
Securing financing is always very difficult. Banks are reluctant to loan, even to people who have thought their plans out well. Venture capitalists may be tough to come by as well.
Consider borrowing money from family and friends, but beware, as this often ruins relationships. Only investigate this option as a last resort.
Once you have secured financing, make your purchase. You will need anywhere between 2,500 25,000 square feet. You did remember to analyze the location, making sure large amounts of traffic pass by, didn't you?
Finally, build your team of employees. Hire managers and employees that show tons of initiative. If they are self-motivated, they will require the least amount of management from you.
And then you can focus on what's most important - running your company.
If you are looking at buying an office equipment supplies business, remember how tough the competition is. Selling an office equipment supplies business may work out well because there is some room for smaller companies.
About the Author
This Wiki was written by Andy White, CEO of Biz Trader .