Increase your profits by developing a wholesale handmade jewelry line and spend less time schlepping your jewelry around from show to show or constantly running to the post office to ship small orders.
I'm assuming you already make a decent profit (because you already figured out a profitable wholesale price).
Wholesaling jewelry brings in less money per piece, but because you set minimum quanity and order value amounts, and you spend less time running around doing retail, you will end up making more money in less time.
You do have to find wholesale buyers. Sometimes store owners or reps will come up to you at craft shows and ask if you do wholesale.
It's a great way to start wholesaling, but if you really want to get serious about this business component, take a look at the following articles to find ways of promoting your wholesale handmade jewelry line.
"Adding a wholesale handmade jewelry component to your business can free up time for you to develop and grow your business, and get your work seen by thousands of customers across the country."
Starting Your Wholesale Jewelry Division
The following sections will discuss the various options you have in regards to starting your wholesale business.
Go slowly and consider your options carefully, especially the amount of money your business has to spend on new business development.
One bad tradeshow can set you back for many months, so jumping into a tradeshow right away may not be the best when you are first starting out. Do your research, and walk a few of these shows to get an idea of what is expected of exhibitors, and what kind of buyers are attracted to these shows.
In the past few years, several online wholesale showrooms for handmade goods have sprung up. They have various offerings, but the one thing they have in common is that they give you exposure to buyers and press which in turn could lead to sales. I say “could” because, just like having a website for your jewelry business, having an online showroom won’t guarantee you sales. As with anything online, it will take a bit of effort on your part to help generate leads into your online showroom.
Some things you should consider when looking into online showrooms:
- How do these online showrooms attract and retain traffic.
- Do they advertise and where?
- How many qualified buyers do they get per day/month/year?
- Do they screen their buyers and what are the requirements for them to access the site?
- What kind of sales do these venues generate or is that information even available?
- Are onsite sales growing?
- Do they help their artisans promote their work outside of the website?
- Do they sponsor or have access to a physical showroom or tradeshow where their members can show their work and meet buyers eye to eye?
The most established online showroom with integrated print marketing programs and three regionally based trade shows is run through wholesalecrafts.com.
Wholesale Gift Shows
If you want more of a general experience in selling wholesale handmade jewelry, you may want to try wholesale gift shows.
These shows cater to a larger audience of buyers, and are always held in major metropolitan areas such as New York, Chicago, Atlanta, Dallas, Los Angeles, San Francisco, and Seattle.
Read more about Wholesale Gift Shows here.
Fine Craft Shows
There are only two main wholesale fine craft shows in the US, and one up and coming one to choose from. If, after your experience retailing your artisanal goods, you feel that your best selling venue would be at fine craft galleries, museums, or boutiques, then you should consider applying to one of these shows. All of them are juried and pretty competitive to get into, depending on which of the shows you are applying to. The advantages of showing here are that buyers are seeking ONLY handcrafted goods from exhibitors, and that you are usually surrounded with high quality work.
What's "net 30?"
Do you have a linesheet?
Here are some common wholesale jewelry business terminology that’s commonly used when selling to stores and doing trade shows.
Niche Gift Shows
Got a particular interest or field of interest? How about taking your handcrafted jewels to your customers by trying specialty shows to wholesale handmade jewelry?
Be sure to check out our article on Niche Gift Shows.
Jewelry Sales Rep
Sometimes you will be approached by jewelry sales reps who want to take on your line for a cut of all sales that they write. Find out some things to look out for when dealing with a Sales Rep.
Although a pretty popular sales avenue for beginning designers, selling on consignment can be a rather raw deal. Find out more in our article on selling on consignment.