Let’s
MP Tools has been supplying hand and power tools for over 10 years, from traditional shop units and via our website
www.mptools.co.uk Our business has grown considerably in the last 3 years and our website has contributed to the recent success. It has not been easy; web trading brings about a whole new set of issues but we have learnt from our mistakes and are confident that our growth will continue.
How long have you been trading on the internet?
Our website is now about 7 years old but the early years were what I now consider an expensive learning experience!
How do you find combining running an outlet with online trading? We still have a viable trade counter that feeds off the same stock we have for the web. We operate a more ‘Argos’ style counter and offer the same web prices in store so both web and walk customers benefit from best prices.
What is your biggest challenge?
Always margin, margin, margin….tools are sold too cheap but this is the penalty for mass distribution. You need to keep finding new lines or great supplier deals. Being a busy fool is the easiest thing to become – the old saying ‘turnover is vanity, profit is sanity’ could not be more appropriate to online trading.
Do you have many regular customers? Yes, but customers can move to a competitor at the click of a button – there is no room for complacency at all. Feedbacks are so important and although sometimes a little hurtful (if you get a bad one) you must learn from it, no matter how unreasonable it appears, if a customer is not happy!…it must be addressed.
Are your customers mainly UK based? Yes, shipping abroad has it’s own issues, security of payment is paramount – I know you will find this hard to believe! But there are some dodgy people out there and power tools are easy to re-sell on eBay.
When is your busiest time of year? Why do you think this is? Christmas without doubt…tools make great presents, practical and personal…
Do particular lines sell well at different times of year? If so, which ones? Web selling is no different to shops. Gardening in the spring, leaf collectors in the autumn, snow shovels when there is 4 inches of snow on the ground and deliveries cannot get out…
Do you encourage reps to visit? Totally and absolutely yes, the relationships with our suppliers are important to us. Sales guys should be welcomed and given an opportunity to help our business grow.We are also in sales so I know how difficult the job can be so why make it hard for people to help us?
How do you follow up if a product catches your eye? Google it! Do what customers would do…how much does it sell for? What’s the margin? …
Why do you deal with particular tool companies? Trust, relationships, service…
..the supply chain requires all these things, our customers deserve service from us, they trust us with their orders and we trust our suppliers to fulfill our orders. I respect our suppliers and consider them essential to our business; we deal with the ones that respect us as their customer. If we both make money then we can repeat it year after year, if only one of us is making money the relationship will fail.
Do you have a surprising ‘best seller’ on the net? If so what is it and why do you think this is? Yes we do – strange things sell then stop, in the past these have been wacky items (for a tool shop) such as washing lines or Christmas lights.
What changes are afoot? We are launching MPDirect, which will have far more technical power to future proof us, plus as the name suggests, we can diversify in the future to other products. Maintaining prices and adding new lines is a serious consideration for any site.
How do you see the future of the tool trade and online trading in particular? The web will grow, web trading will become less trade specific and more fulfillment businesses, and people will buy from trusted and best value sites. The key is to be trusted and to offer value (that does not always mean the cheapest).
Name: Paul Sandison Company: MP Tools Address: 5 Rowan Industrial Estate, Mill Lane, Alton, Hants, GU34 2NQ Phone/fax: 01420 85023 Email:
sales@mptools.co.uk
telephone 01444 440188
ToolBUSINESS+HIRE 7
Reply No. 210
Talk Shop!
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