Royal Buying Group (RBG) was founded in 1995. The group, based in Illinois, is designed to support independent convenience store retailers. RBG negotiates with national vendors to increase members’ buying power and reduce their operating expenses. In addition, this buying group offers such benefits for its members as educational programs and networking events.
The Home Technology Specialists of America (HTSA) is a group purchasing organization for consumer electronics retailers. A group of consumer electronics retailers founded it in 1996, and, as of September 2016, is the only member-owned cooperative buying group in the consumer electronics space. The group’s purpose has always been to give independent retailers in this field a stronger voice, which it does by increasing their purchasing power, serving as a forum for best practices, and increasing members’ market share.
You have probably been told that business credit cards are expensive to process. What you haven’t been told is that there are steps you can take to get lower pricing.
The Veterinary Cooperative (TVC) touts itself as America’s largest veterinary industry purchasing cooperative. It’s located in Evanston, IL, although it’s actually incorporated in Minnesota. Founded by four veterinarians in 2012, the goal of the cooperative is to ensure independent veterinary practices and hospitals remain profitable by gaining a great deal of purchasing power and marketing prowess. In addition to its purchasing activities, the Veterinary Cooperative offers revenue-enhancing programs, profit-maximizing programs, and an online best practice knowledge exchange.
NATM Buying Corporation is a group purchasing organization based in Irving, TX but operating across the United States. It has 11 regional members that sell appliances and electronics. Despite its relatively small membership, it’s a nationally recognized group and all of its members are leading retailers in their verticals. This may have to do with the requirements to join, which include a stipulation that a member business must do at least $50 million in sales per year.
The Alliance is a buying group located in Illinois and catering to the medical field, specifically optometry and eye care. The primary focus is on lowering purchasing costs, though other advice and assistance is also available, including professional marketing programs, social media management, and website development services. Its website includes links to the Vision Council and American Optometric Association, though it’s not clear if those are partners of the Alliance or just listed as resources. The group also lists upcoming events relevant to optometrists and those in the medical field.
You may have heard of group purchasing organizations (GPOs) or buying groups, but what are they and how exactly can they help your business? A buying group is an organization made up of small businesses that band together so they can negotiate as a larger group with vendors to receive better pricing and terms on goods and services.
In keeping with the steady flow of fee increases from the card brands, MasterCard has (very) quietly announced it will begin charging businesses an annual “merchant location fee.”
