Look for items that have volume discounts – Many suppliers and manufacturers offer significant discounts when buying large quantities. Finding products where you can get a price break by pooling your group’s purchasing power is a great opportunity. Do research on supplier websites or ask sales reps about volume pricing.
Consider consumables or frequently replaced items – Products that people regularly use up or replace are great potential group buys. Everyday items like office supplies, cleaning products, or pantry staples allow members to continually benefit from the group rate.
Focus on specialty or hard-to-find items – Sometimes small suppliers have minimum order quantities that are too high for one person. Banding together lets you order those unique or specialty products you wouldn’t be able to get on your own.
Poll members about shared needs – Survey members about what products they commonly purchase. Items that keep popping up among members are good options. Plan group buys around the shared needs of the group.
Leverage member expertise – If members have experience in procurement, manufacturing, wholesale or retail, pick their brains. People close to the supply chain often have insights about deals or volume pricing opportunities.
Research competitive options – Before choosing one supplier, competitively shop to ensure you’re getting the best combo of price, quality and service. Negotiate with vendors by highlighting the spending power of your group.
Take advantage of seasonal items – Products and materials that are in-demand during certain times of year often have better volume pricing. Think seasonal produce, holiday decorations, or event supplies that you can buy in bulk and divide up.
Focus on items with storage flexibility – Make sure group buy items have a reasonable shelf-life and don’t take up too much storage space. This allows members to buy larger quantities without waste. Perishable or bulky items require more coordination.
Use group buying power beyond just products – Don’t forget to look at services, delivery fees, equipment rentals, etc. that the group uses regularly. Negotiated vendor contracts around services allow ongoing savings.