Core to every successful growth story is solid business foundations. Paul Wheeler, sales director for MHK UK shares why MHK is the perfect partner for retailers – from start ups to established businesses ready to scale up.

Creating opportunities to reinvest

Busy and profitable are very different things. Even the most ‘popular’ business will need to be generating enough profit to enable it to finance its growth plans.

Aside from external investment, the number one opportunity to create more profit is to increase the margin on your products and services – and this is certainly easier said than done when costs are going up and client budgets stay the same.

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Thanks to being one collective group, representing more than 3,800 members globally, MHK’s buying power benefits retailers with even established supplier relationships.

If every product offered by a retailer had just a 1% improvement in buying price, that results in profit increasing by 8.53%.

This means you can continue to sell at the same price but generate more profit to reinvest in your business, and partnering with MHK gives retailers advantages far in excess of this.

This is why retailers of all trading ages become MHK members. Whether they are a brand new business, 12 months old, or even 12 years old, there is always more margin to be made.

Increasing cashflow without large deposits

As a new business, cash and credit will be key to growth plans. Without trade credit, any business limits how fast it can grow, as every new piece of business requires capital to pay for trade goods in advance.

There are not many situations where a new business will receive 30 days payment terms from a supplier – but with MHK this is possible.

Why is this important? As a new business you will need to be competitive.

Taking large deposits from clients to pay your suppliers will be trickier than it would be for an established business.

With MHK, you will benefit from open ended credit with payment at 30 days. This takes the onus off the client to fund their dream project whilst you establish yourself.

Accessing and comparing more suppliers and brands

Any successful business needs to not just understand its own products, but also understand what their competition is doing in order to highlight the areas of difference to potential customers and deliver a product that meets their client’s design and budget.

MHK members have access to a range of Europe’s leading suppliers, allowing them to offer a Good/Better/Best staircase.

And, through a unique comparison tool, MHK is able to show members the key differences in cost, service and specification across a range of furniture manufacturers.

This helps new start businesses select a product that competes in their local market, and established businesses to select products that will allow them to enter new markets.

In both cases, as it shows pricing across a spectrum of brands, it also allows a good assessment of how much your competitors are paying for their product, giving MHK retailers valuable insight into the points of difference and allowing them to use this knowledge in their sales activity.

Grow with us; retain your independence

As a new business, financial backing and support will mobilise growth plans.

Joining MHK before you officially ‘open’ could be the smartest decision you make.

You’ll have the backing of one of Europe’s largest purchasing groups, providing reinforcement to support your journey. This is why some of our start up retailer members choose to join MHK prior to signing a lease.

For established businesses, unlike a franchise, being part of MHK means keeping your independence and power across all aspects of your business.

We’re here to help build foundation for growth so that you can continue to focus on what makes your business unique and successful.

To find out how to become an MHK partner visit www.mhkgroup.co.uk or call sales director Paul Wheeler on 07876 873301