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    1. C.Walker is offline

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      #1

      Has anybody tried a buying group?

      Has anybody tried a buying group? I’ve heard you can get better prices when you buy in bulk.
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    2. Jeff.Jackson53 is offline

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      #2
      That’s exactly the point of a buying group. Here’s a simple and straightforward definition of buying groups: A buying group is a group of businesses in the same industry who combine their purchasing power to negotiate better prices and terms from the vendors. A small business can really benefit from joining a buying group. Think about it:

      • When you join forces, you’ll be able to meet the huge minimum order requirements, something you probably wouldn’t be able to afford on your own;
      • When you buy in large quantities, you’ll get price breaks that will then allow you to price more competitively;
      • You’ll probably also get better payment and freight terms. When an order’s large enough, some wholesalers may waive freight charges altogether.
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    3. C.Walker is offline

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      #3
      That all sounds good. But how is a buying group organized?

    4. Jeff.Jackson53 is offline

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      #4
      There are a couple of ways to set up a buying group.

      The group could be set up so that every member owns an equal share. If a group is just starting up, this is a good way to go. Everyone will take ownership and work toward the ultimate objective. In addition to being willing to put up more money, they’ll want to contribute time and effort toward making the group successful.

      In this “democratic” model, everyone has a say in all matters relating to the buying group: vendor and product selection, the group’s operating rules and policy, etc. Any manufacturer rebates that come in are divided equally among all members of the group.

    5. C.Walker is offline

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      #5
      What if I don’t want to be part of a “start-up” buying group, so to speak?

    6. Jeff.Jackson53 is offline

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      #6
      Then you could “subscribe” to a buying group that is owned and run by someone else, or by a smaller group of buyers. The advantage to belonging to this type of group is that decisions can be made quickly and efficiently. The other members would basically be “subscribers” to the group, enjoying the benefit of bulk pricing.

      The flip side is that they would have no say in how the group is run. And the owners of the group might keep all the rebates the group would have earned, or share just a portion with the group members.

    7. C.Walker is offline

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      #7
      So you’re saying that the owners would be making money by keeping all the rebates?

    8. Jeff.Jackson53 is offline

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      #8
      In general, members of a buying group are not in it to make money; their real interest is in saving money. Any found monies in the form of rebates are usually used to cover business overhead expenses. If you join a group as a subscriber, you will probably be charged a fee to join the group and have access to their benefits, and maybe also a membership dues.

      In any case, you should talk this over with your attorney. Together you can decide which type of group is best for you.

    9. Sammie is offline

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      #9
      Is a group purchasing organization different from a buying group?

    10. Jeff.Jackson53 is offline

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      #10
      A group purchasing organization, GPO, is an entity comprised of a group of businesses that leverage their collective buying power in order to obtain discounts from vendors. So, in essence, yes, the same. A GPO can be funded by:

      • administrative fees paid by their vendors;
      • fees paid by the buying members;
      • a combination of both


      Some GPOs have mandatory buying and participation levels. But obviously members participate based upon their buying needs as well as their belief that their GPO will obtain competitive pricing.

      You see GPOs in many industries: agricultural, manufacturing, health care, electronics, etc.

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