Do you know in Singapore, the alcohol market is large and very important to the economy? Whether you want to start with a retail spirits shop or a chain of bars and restaurants, tapping into this market is a big move. With the many new brands already in the market, you need to get a reliable and the right distributor to help you out.
This article outlines tips that will help you find the right distributor for your premium spirits in Singapore.
- Research on the distributor
Before picking up on a distributor, do some research on the distributor. Have the list of all the distributors available and research on them properly. Check on the salesperson for the distributor, are they easy to work with, check if they are legit, their websites, the clients they distribute to. In addition, remember to ask the other clients working with the supplier. After which, choose a distributor who will meet your needs. These are distributors that are making distribution in areas where you intend to be covered, and they distribute the premium spirit brands you have.
- Look at their payment schedule
The sweetest thing in business is the money you get from the business. Yes, everyone has the vision to make a lot of money from their business. But, first, you need to find out if the distributor is paying their bills well. Furthermore, are they spending the supplier their cash at the agreed time? The reason being you don’t want to wait for a longer time to get your money.
- Thoughts of markets influencers on the distributor
Remember, in every need; the market influencers can either break or make brands. You should find the perception of these influencers on the distributor you want to choose. This perception will help you realize if the distributor is going to make an impact with your premium spirits in Sg or he won’t make it
- Seek referrals from other companies
Various companies have been in the business for a long-time and have had successful stories. You need to seek advice on the best distributor who will help your brand grow. You can also check for previous works from the distributors. Check for the brands they have been distributing. In addition, check for their targeted sales and if they have achieved them.
- Check for their market preference
Lastly, the important thing you need to consider is what the market of the distributor is like. Does he have a market presence? After establishing the distributor’s market presence, check for the impression of the distributor. Even though the distributor has a market, avoid him if the distributor has got a bad image. The reason being you don’t want your premium spirits to end up in the hands of someone who is not liked. This distributor may create friction in the market, which affects your brand negatively.
Final thoughts
Getting into the alcohol industry is a good venture because of the profitability of the business in Singapore. However, to improve your brand and maximize the profits you make from this business, you need to look for a distributor. The distributor should be well conversant with distributing premium spirits in Sg. The above tips will help you get the right distributor.
