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Just found my competitors supplier

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Just found my competitors supplier, what are the pros and cons of going with them?? assuming their quality is pretty much on point

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Can be okay. Although supplier might share your information with your competitor or vice versa.

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I would get some samples first to validate quality. If OK then negotiate pricing and place a trial order. If quality is OK and sales are successful, then negotiate better pricing for larger volumes, place a larger order. Rinse and repeat.

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It can effect you on both ways

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