A major factor in the health and profitability of your beauty business is your relationship with the suppliers and vendors that are supplying you and customers with products and services. Nowadays when competition is so strong, and time is of the essence, it’s more important than ever before to have a handle on the vendors and suppliers who work for you. You definitely need systems in place that not only help you determine whether or not a particular vendor will be right for you, but also keep your beauty business legally protected. This goes for online and offline businesses as well, particularly if you are outsourcing services.
Start at the beginning – Evaluating a vendor or supplier
Taking the time to research a potential vendors resume is best done at the outset, to help you avoid as many problems as you can. Know the answers to questions like these:
- How long have you been in business?
- Who are some of your customers?
- How many employees?
- How busy are you?
- How focused on my company will you be?
- Who will I be working with?
- What happens when there’s an emergency?
- How do I know you’ll come through when I need you?
Put accountability systems in place
This relationship needs to be a win-win for everyone involved. For this reason, it’s essential you put accountability systems in place to ensure everyone is doing their portion. Establish solid performance parameters that clearly state what is expected, and stick to them. Examine these criteria routinely, and don’t let under-performance issues go undetected. Make sure there is a quality management system set up. Don’t trust your beauty business to anyone who lets the inmates run the asylum!
Don’t be scared to cut ties!
Sometimes it just doesn’t work out, and you must be decisive when it entails changing vendors or suppliers. Don’t allow a bad situation to become worse; your beauty business depends on it!