For the second post in my Selling Wholesale series, I’m going to share how you can prepare for your first in-person buyer meeting so you can knock their socks off and present yourself like a pro, even if this is the first time you’re exploring wholesale.
As a small biz owner and product maker, consignment can initially, sound like a pretty sweet deal. It’s usually the first partnership opportunity many makers are approached with which, in and of itself is exciting! However, consignment deals put almost ALL of the risk on you, and no risk on the retailer. With consignment, you only get paid after your product sells. They are not purchasing anything from you up front at wholesale, so you are spending your own money to create the product(s) in the hopes they will sell. In traditional wholesale/retail partnerships, a store’s buyer would purchase products from you up front which means making money almost immediately.
When it comes to being “live” there are so many of us hesitant to put ourselves out there. If you’re an introvert (like me) you may prefer to passively watch instead of being the center of attention. Maybe the thought of adding yet another social media tool to your arsenal makes you want to wave the white flag in surrender (because do we really need ANOTHER video tool?!)
Working with buyers doesn’t have to be difficult. If you approach their business as you would your own you’ve got a pretty high chance for success! That said, so many small businesses make doing business difficult and that results in low sales and inconsistent retail relationships. I sat down with some of my favorite buyers and talked to them about the quickest way to get on their bad side and made a list of their biggest pet peeves to share with you! If you’re guilty of any of these points I suggest making some changes ASAP!
Last week I talked about my love of wholesale. This week, I’m addressing some of the drawbacks to running a wholesale business because I think its so important to understand the big picture before diving in! I’m #TeamWholesale all the way because in my eyes, the benefits outweigh the costs, but everyone is at a different place in their business. These are a few of the scenarios you need to be aware of.
Some businesses have found their home on Etsy while others sell through their own websites (or a combination of the two!) Maybe you've been dreaming about diving into wholesale but going beyond Etsy or your own website is overwhelming, scary and kind of freaks you out! Well friends, I'm here to help. If you’re thinking about wholesale but aren’t sure it’s the next best step for your business this post is for you!
It’s pretty amazing to see something you’ve poured your heart and soul into sitting on the shelf at your favorite store. It’s an even better feeling when you hear how quickly it sells and receive a re-order request in your inbox. If you have a product that you dream of seeing on your favorite store’s shelves I want you to grab a coffee (or a cocktail) and carve out some time for yourself to consider the following before jumping in: