Procurement is an important process for wellness business owners to understand when opening a new business.
The procurement process involves researching and finding supplier partners who can provide the products, goods, or services necessary for your wellness business to thrive.
Knowing where to shop for quality items or services can be tricky and time-consuming.
Identifying reliable suppliers who are trustworthy and have competitive prices can help you plan and save resources in the long term. It would be best to do your due diligence when researching potential suppliers and factor in how they will meet your expectations when making appropriate decisions.
You should also be aware of the different procurement methods available to you when purchasing items and services. Popular procurement methods include direct purchases, requests for quotes (RFQs), tenders, auctions, and catalogue orders.
Working with spa business owners as consultants, we find the procurement phase to be the most challenging. The products, supplies, and services need to be aligned with the spa's vision, mission, and overall design. And for us to be able to find the perfect supplier, we had to spend hundreds of hours browsing all possible options.
We finally compiled these suppliers into a comprehensive spreadsheet and added functions, so you can easily find suppliers based on the product or item that you're looking for. If you're in the procurement phase for operations and are looking for equipment and supplies in setting up your spa business, we highly recommend you look at our Supplier List - Operations - which we made available through our resource store.
If you’re looking for spa partners and retail brands, we also have a supplier list for you - Supplier List - Spa Partners & Retail Brands.
What are the primary things to look for when choosing your supplier?
1. Price - It's important to compare prices with other suppliers, as well as their terms and conditions.
2. Quality - Make sure that the products or services supplied meet your business's standards and expectations regarding quality.
3. Design - Be sure to look into the design of the products if relevant, and ensure it aligns with your business's aesthetic.
4. Delivery Time - This is especially important if you are expecting orders for a certain timeframe. Make sure that the delivery times match up with when you need them and that there are no hidden fees for rush orders.
5. Payment Duration - It's important to know how soon after ordering you are expected to make the payment and what forms of payment are accepted.
6. Customer Service - Check out reviews from past customers to get an idea of the customer service you will receive. If possible, ask questions to test out the level of responsiveness and support that a supplier offers.
With the right suppliers, you can ensure that your spa business runs smoothly and efficiently.
We hope this guide has been helpful in providing insight into the procurement process for wellness businesses!
Blue skies,
Sam and Sonja