Selling Handcrafted Work Wholesale
WHAT IS WHOLESALING?
Wholesaling is selling goods to retailers/gift shops/galleries
rather than to consumers directly. Once a product is purchased
at wholesale, the retailer then displays it and sells your
product at a retail price.
The standard for retail giftware is 100% mark-up. As an example
if you wholesale a candle for $5.00 the retail price would then
be $9.99. As you first consider wholesaling, this may seem unfair.
However, you probably do not realize the many costs involved
in the sale of your product (if you sell it yourself, or in
the owning and operating of a retail shop).
CHOOSING A WHOLESALE PRODUCT LINE
The trick to successful wholesaling lies in what products you
choose to sell at wholesale rates so you can still make a profit.
Not every craft item will work as a wholesale product. If
the wholesale price of your product is too high (too labor
intensive/expensive materials or hard-to-get items), then
retailers will not be interested. They will have difficulty
selling that craft item in their shops.
It will take some research to figure out exactly what your
crafts are costing you to produce and to determine if you
can still make a profit by selling them at wholesale prices.
DEVELOP AND EVALUATE YOUR PRODUCT LINE
Once you have figured out the true cost of your craft items
you will be able to group into categories. Some will work
only at craft shows, some will be good gallery candidates,
and some will have enough mark-up to make them wholesale candidates
for gift shops.
Start with a simple product line of less than 10 items. Keep
it easy to display at a trade show and simple to create a
promotional brochure or catalog. Keeping production "runs"
straight on more than that will be difficult, especially if
you are the crafter making all the items! If you want your
product line to look more extensive, change colors, sizes
Create a theme for your product line, perhaps by color, by
season (Christmas or Valentines) or by a common element (best
friends, cats, home decor). This will help you present your
product line as a finished business, rather than as a collection
of craft ideas.
Home Craft Business: How To Make It Survive And Thrive.
Packed With Suggestions Ranging From Tax Tips To Wholesaling,
The Home Craft Business Will Guide You Through The Confusion
Of Expanding A Craft Hobby Into A Business With The Potential
For Some Serious Income.
To Sell Wholesale, You Have to BUY Wholesale
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