A stockist is a person or business that sells stock on behalf of another company. Stockists typically sell products of other companies to the retailers. The company whose goods are stocked allows a certain margin of profit for the stockist in exchange for stocking and selling their brand.
You can think of a stockist as an extension of a company’s warehouse since their job is to bill the product as per the agreed amount by the distributor. Main stockists, distributors, sub-stockists, retailers, etc. all act as nodes in the supply chain. They acquire stock from the previous node and sell to the next at a margin.
Stockists will normally have a certain level of manpower and resources including means of transport and storage warehouses to service the region allocated to them.
So in essence, a stockist is anyone buying stock from a company to sell in the retailer market. They are the link between the company and the retailers.
How to become a stockist
If you’re looking to become a stockist in your area, be sure to take note of the following:
- Have an existing web store. It’s not a good idea to approach a brand to stock their products without an online presence such as an eCommerce store, website, social media pages, and so on. Most companies will look you up and see what you’re currently doing with the other brands. Luckily, Turis can help get you a professional online store in minutes.
- Have a registered business. This will assure them of your commitment to your business and to operating legally.
- Showcase the ability to pay upfront, at least the first. Come to think of it, no one wants to deal with a broke stockist who’s probably looking to sink them in payment stalemates
- Position your own brand strategically. As a business, it remains paramount to define your point of difference with the other brands, even when planning to stock the most unique products. There are multiple ways of setting your business apart from the rest, here are a few pointers for you.
- Finally, be sure to choose the right brands to work with. While brands will vet you as a potential stockist, you always want to thoroughly scrutinize them to ensure that they’re a good fit for your business. Avoid taking an ad-hoc approach to this by going for only what’s currently hot or trending. It’s also certainly not about what the next stockist has in store.
And once you’ve landed that stockist deal, don’t forget that quality customer service is key to survival. Good luck!