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It’s a sad fact that if your business isn’t making more money than it’s spending, at some point you’re going to run out. And in almost all cases, that means you’re out of business.
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It’s here: Taking PayPal in stores.
Okay, technically it’s been here for a while, but the number of stores that can accept PayPal is about to shoot up dramatically with the official beginning of First Data’s (now Fiserv’s) in-store PayPal acceptance.
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The National Association of Retail Buyers & Sellers (NARB) is a non-profit founded in 2009 by two retail industry veterans. Their goal was to create an organization that would help retail professionals share information and best practices with one another so that all members could succeed. One of the benefits of joining NARB is that you’ll get special offers (read: discounts) from vendor sponsors. However, increasing members’ buying power isn’t the sole purpose of this NJ-based organization. It also seeks to develop members’ careers and serve as a resource for many aspects of retail buying and selling, store planning, and product development. Unlike many buying groups or group purchasing organizations, NARB is only open to individuals, not to businesses.
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Royal Buying Group (RBG) was founded in 1995. The group, based in Illinois, is designed to support independent convenience store retailers. RBG negotiates with national vendors to increase members’ buying power and reduce their operating expenses. In addition, this buying group offers such benefits for its members as educational programs and networking events.
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The Home Technology Specialists of America (HTSA) is a group purchasing organization for consumer electronics retailers. A group of consumer electronics retailers founded it in 1996, and, as of September 2016, is the only member-owned cooperative buying group in the consumer electronics space. The group’s purpose has always been to give independent retailers in this field a stronger voice, which it does by increasing their purchasing power, serving as a forum for best practices, and increasing members’ market share.
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You have probably been told that business credit cards are expensive to process. What you haven’t been told is that there are steps you can take to get lower pricing.
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The Veterinary Cooperative (TVC) touts itself as America’s largest veterinary industry purchasing cooperative. It’s located in Evanston, IL, although it’s actually incorporated in Minnesota. Founded by four veterinarians in 2012, the goal of the cooperative is to ensure independent veterinary practices and hospitals remain profitable by gaining a great deal of purchasing power and marketing prowess. In addition to its purchasing activities, the Veterinary Cooperative offers revenue-enhancing programs, profit-maximizing programs, and an online best practice knowledge exchange.
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NATM Buying Corporation is a group purchasing organization based in Irving, TX but operating across the United States. It has 11 regional members that sell appliances and electronics. Despite its relatively small membership, it’s a nationally recognized group and all of its members are leading retailers in their verticals. This may have to do with the requirements to join, which include a stipulation that a member business must do at least $50 million in sales per year.
