As a mattress store owner, expanding your business beyond traditional retail can be a lucrative strategy. Collaborating with interior designers, hotel purchasing agents, universities, summer camps and nonprofit organizations can open up new avenues for wholesale sales, providing a significant boost to your revenue.
How do I know? By partnering with St. Vincent De Paul, a nonprofit organization in Conroe, Texas, I routinely sell 80 pieces of promotional bedding to them monthly.
This partnership not only generates additional revenue but also has led to referrals and increased brand awareness. I have sold virtually every member of their staff and received numerous referrals from their friends and family.
While wholesale sales may have lower profit margins compared to retail, they can generate substantial revenue, especially in large quantities. And partnering with reputable organizations can increase brand visibility and reach a wider customer base.
Customers who purchase your products through wholesale channels may also become retail customers or refer friends and family. Plus, collaborating with nonprofit organizations can help you give back to the community and strengthen your brand reputation.
Here are key partnerships to consider:
- Interior Designers: Collaborate with interior designers to provide mattresses for their projects, such as homes, hotels or commercial spaces. Offer discounts or special pricing for bulk orders.
- Hotel Purchasing Agents: Partner with hotels to supply mattresses for their rooms. Highlight the durability, comfort and cost-effectiveness of your products.
- Universities and Colleges: Supply mattresses for student dorms and faculty housing. Offer discounts or special pricing for large orders.
- Summer Camps: Provide mattresses for cabins, lodges and other sleeping accommodations. Emphasize the durability and safety of your products.
- Nonprofit Organizations: Partner with nonprofit organizations to provide mattresses for their facilities or as donations to individuals in need. Consider offering discounts or donating a portion of the proceeds.
To be successful, develop high-quality marketing materials, such as brochures, catalogs and samples, to showcase your products in partner locations. Ensure your products are strategically placed in partner locations to maximize visibility and attract potential customers.
Provide excellent customer service to your wholesale partners, addressing their needs and concerns promptly. Foster strong relationships with your partners through regular communication, collaboration and mutual support. Negotiate with your vendors for reduced pricing on larger wholesale orders and utilize their free freight options to improve your profitability.
By following these guidelines and building strong relationships with your partners, you can effectively expand your mattress business beyond retail and unlock new opportunities for growth and success.