The convoy gives small businesses more purchasing power to take advantage of discounts

Small companies usually do not have the purchasing power of large companies. So they often pay more for the services they need. The convoy wants to change that.

The online marketplace offers discounts for small businesses by negotiating bulk discounts for all members. Learn more about this intriguing concept in this week’s Small Business Spotlight.

What does the company do?

Provides a marketplace for businesses.

Co-founder and CEO ?Yasin Abbak told Small Business Trends, “The Convoy is a B2B marketplace that helps small and independent businesses save money on everyday business tools and expenses so they can reinvest more in themselves and their communities.”

Business niche

Providing purchasing power to small businesses.

Abbak says, “We give SMBs easy access to discounts on the products and services they use (or would like!), helping them cut costs. We are able to do this by combining the purchasing power of all our small businesses to negotiate bulk discounts on their behalf.”

How the company started

To help entrepreneurs.

Abbak adds: “Frankly, the seeds of this idea were planted when I was a kid. Like many immigrants, when my father moved to the US, my father found work in a potato-peeling restaurant, despite an engineering degree from one of the top universities in Turkey.

“But he had an entrepreneurial spirit and worked tirelessly. At various times in my childhood, my father owned a restaurant, a food truck or a bread and pastry distribution business.

“But I saw how difficult it was for him to compete with the restaurant chains and the national brands. With The Convoy, I’m building the resource I wish my father had when I was young.”

Biggest win

Bring in new users.

Abbak says: “To be honest, we celebrate every new registrant because we know we are helping another SME save costs and retain more wealth in their community! Literally, we set up a Slack automation to send the party emoji to the team every time a new company joins and starts saving!”

Biggest Risk

To work.

Added Abbak, “All of our founders have made major pay cuts to come on board because we care deeply about the mission. I think that’s true for all of our employees at this stage; we’re all making personal sacrifices to help support this mission. But we all really believe it will pay off!”

How would they spend an extra $100,000?

Advertising and marketing.

Abbak says, “We want to reach as many small businesses as possible so we can help them cut costs!”

Team tradition

Share old-fashioned words.

Abbak explains: “We end each morning standup meeting with a random ‘word of the day’ and we swap who gets to pick and share it. We usually choose silly-sounding or outdated words that you might not otherwise hear. A recent example : Absquatulate. (It means to leave abruptly!)”

Image: The Convoy, Yasin Abbaki

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