Monday, October 24, 2011
Wholesale Part 5: Important Tips
Wholesale is not for everyone. It is difficult to do if you only create one of a kind items. If you do decide to pursue selling your items to shops make sure you can afford to do it and still make money. So far in this series we have talked about the differences between wholesale and consignment, how to do research on the shops, and creating a checklist for your initial meeting. In the last installment I want to briefly hit on a few things that are a must when you are selling wholesale.
1. Make sure that you have a tag on your item and that part of the wholesale agreement is that the tag stays on the item. Have at least your shop name and a web address on your tag. This helps in branding and can also help you to sell more items after the person buys the item from the shop you sold to.
2. Make sure when you set up the wholesale account that the shop is not allowed to sell your item for below your retail price. There is nothing more frustrating than some shop competing with you with your own items.
3. make sure the shop knows that they may not be the exclusive retailer for your goods. If they want to be exclusive you need to let them know that they will have to have minimum monthly orders from you. Make sure you set you minimum monthly requirements to what you might lose if you are not selling to other shops in the area.
If you have done your research on the shop you should do very well. Remember when selling wholesale you want the shop to make money so that they order from you again. An ongoing wholesale account can become one of your greatest income flows.
That concludes the series on wholesale. If you have any questions let me know.