If you are all set to start a designer faucet business and resell the products of an OEM (Original Equipment Manufacturer) with your branding, you have made an excellent decision. Designer faucet industry is one of the fastest growing industries but it does not create unnecessary buzz like most other industries. Most people are therefore not aware of the business opportunities in this field. This is an advantage to you if you are getting into this industry right now. In order to set up a successful business, you need to select the best supplier. Here are some of the vital qualities to look for in your designer faucet OEM.
Experience of the OEM – When you are trying to source your waterfall faucet and other items in the inventory you would like to hold in your store, you might want to check the experience of the OEM in this field. As you are starting new, you will need the support of some company that is well established. You do not want to go with suppliers that are also trying to establish their brand in the industry like you.
Future support – When you order the faucets from a particular OEM, do they also feature faucet accessories for all the models that they are featuring? You should feature only faucet models that come with the required future support in terms of all the replaceable accessories and spare parts. If you do not have the spare parts for the faucets, your customers will feel stranded and they would be forced to go for a complete replacement. This is not something your customers would like. Better keep this factor in mind when identifying your OEM.
Lower Minimum Order Quantity – Will you be order your inventory comfortably without straining your budget too much with a lower MOQ option? Lower the MOQ the better it is when you are getting started. You can always scale up your orders based on the popularity of the items or else you will have all your funds stuck in products that are slow to sell. Find companies with lower MOQ.
Range of selection – Does the OEM feature adequate number of products so that you do not have to source from multiple vendors to populate your store? Find companies that offer a wider range of options for their customers.
Turnaround time – When you place the order, how fast will the manufacturer be able to deliver your orders. Find companies that guarantee fast delivery so that your store does not frequently run out of stock. In order to keep your customers happy they should find whatever they are looking for without having to worry about the availability.
Cost – Are the products featured by your OEM priced reasonably? If the sourcing prices are too high then you will have issues marking up the prices further. This will leave you with very little profit making the entire enterprise into an effort that is not worthwhile.