Back-up Suppliers

If you are buying products and reselling them to your customers, you may need to protect against losing a supplier or product source. They can disappear without notice like any other business and where would you be if they supplied your best selling products? They might also have supply problems and not able to ship before you completeky run out. Or they raise your cost to a level where you can no longer buy and resell at a profit.

Always have one or more back-up suppliers who fill this need if it ever happens. Have open accounts with then and give a few orders to have an ongoing relationship. This way you and they will be ready on short notice if you need product quickly. Check your costs in advance to be sure that you can resell and make some profit. Don't wait until the situation is urgent and then go scrambling to find someone, prepare for the worst in case it does happen.