Many people think that trade accounts are only for interior designers or large companies, but the truth is, rental business owners can reap the benefits of trade accounts too! We’re talking all about how trade accounts can benefit you whether you are a solopreneur or have a large team. Plus, getting started is easier than you think! We’ll be diving into all the ways that you can purchase new inventory at a discounted rate.
For starters, a trade account is a business-to-business membership that only certain businesses qualify for. Many large furniture retailers participate in trade accounts because it brings them more business by offering a discount. West Elm, for example, offers 20% off all of their products just by being a trade member. Take a look at our free Inventory Sourcing Guide to see where we buy all of our inventory from!
Along with the major discount on products, some other benefits of trade accounts are tax-exempt purchasing online and in-stores, no order minimums, and extra support from the retailer’s team. Getting new inventory with a discount can make a huge difference in the amount of product you are able to purchase. For example, we were able to purchase a bulk order of our Alt Chairs because we bought them through a trade program with a hefty discount. Additionally, you’ll be able to start making a profit off of your rentals much quicker when you’re buying them for less.
We talk more about this in Episode 65 of the Render Podcast, Buying Wholesale for Your Rental Company. Having a trade account is very similar to wholesale — Here’s what you’ll need:
Most retailers have a form on their website where you give them all of this information and fill out an application. It’s as simple as that! Once you’re done, you’ll receive an ID number that allows you to purchase items with your discount and tax-exempt.
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