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as published in CRAFTLINK Newsletter
For most craft business owners, the prime selling months lie between September and December. how do you adjust your business so that you can make money every month of the year? The answer may be in developing a wholesale aspect to your business.
What is Wholesaling?
Wholesaling is selling goods to retailers rather than to consumers directly. Once a product is purchased at wholesale, the retailer then displays it and sells the new product at a retail price.
The standard for retail giftware is 100% mark-up. As an example if you wholesale a candle for $5. 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
Develop And Evaluate Your Product Line
Once you have developed a line of quality wholesale products, you are then ready to approach retail shops. Follow these simple steps:
Choosing Your Steps
Check out the Shop
Once you have compiled a list, the next step is to visit the shops and do some detective work. While at the shops make careful mental notes on the following:
Now you will have an idea if your products will fit the store.
The Four step Approach To Wholesale
Write A Business Letter
Introduce yourself and your product by writing a letter. This allows you to carefully plan your introduction. Refer back to your notes and be sure to personalize the letter to the shop owner. Inform the shop owner that you will contact her.
Call And Make An Appointment
Follow up your letter with a call to arrange an appointment for the shop owner to view your samples.
Arrive dressed professionally and ready for business. Don't forget your:
Write Up The Invoice
If you have done your homework, the next step will be to write up the invoice. Congratulations, you are now in the wholesale business!
More information on Karen Booy or Craftlink Newsletter
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