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Can I Buy Wholesale Merchandise Before Starting Up?

By Brad Sugars

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

I'm thinking about opening a kayak rental business but I don't want to spend more money than I have to for equipment and supplies. Is it possible to buy kayaks wholesale if I have not opened the business yet. If so, how? What advice do you have?

You should be able to buy a few items but you may not be able to buy in bulk, depending on the local “re-selling” rules in your area.

In general, it’s easier than ever to get great deals on any kind of item online, and you should be able to do a fair amount of research up-front to make sure you get the best pricing on your kayaks.

The bigger question is whether or not there is a market for this type of business in your area. Who are your competitors? What do they charge? Are they really making any money, in terms of bottom-line profit, with their businesses?

Those are questions you need to answer initially, as getting your hands on equipment at a decent cost is secondary to finding out if this is a viable business idea for your particular market.

If it is, one of the first places I’d look for equipment is your competitors. Chances are, one of them simply wants out of the business and is willing to hand over stock at a resonable price.

Who knows? You may even get some of their customers along the way. And if you can create a great experience for them, you can be on your way to creating a great referral network or sales funnel for your business. That is what you’ll need to sustain your business over any length of time. 

Brad Sugars is the founder and chairman of ActionCOACH. As an entrepreneur, author and business coach, he has owned and operated more than two dozen companies including his main company, ActionCOACH, which has more than 1,000 offices in 34 countries.

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