do you want to start selling your handmade products wholesale to brick-and-mortar stores you can make a lot of money selling wholesale keep watching because in this video I'm going to share with you what you need to know before starting your wholesale video hi my name is Mei Pok and I help makers artists and designers create a consistent income selling their handmade products online the first question you're going to need to ask yourself is can you handle producing quantities of your product this is the nature of selling wholesale so what we're long we used to when
we're selling online retail we're selling one item one quantity of that item to one comfortable well when a wholesale buyer comes to usually the buyer of a brick-and-mortar store a physical store on the side of the street or maybe it's the buyer of an online store like anthropology for example and they're buying multiple quantities of multiple designs from you so that they can resell them to their customers so a few other questions to ask yourself if you're not sure if you can produce at scale or not is maybe can you work faster can you work
more quickly and if you can't then think about maybe how can you work more efficiently and in the more streamlined way because ultimately what you want to do is create your products in bulk and if you can't do that then maybe maybe not for right now but for later down the line you might want to ask yourself if you can hire other people and train them how to make your product the second thing that you're going to need to check is if your pricing is set up correctly from wholesale so how can you tell if
it's correct or not a very easy way to gauge is to take your existing prices that you're selling Pro retail to that single customer where they're buying just for one item and then divide that by two and that's gonna be your wholesale price so for example if you currently sell a necklace for $20 retail online then divide that by two you're gonna have to sell that product for $10 wholesale that's the expectation because remember the reason why / - and that's the $10.00 wholesale price is because you're also buyers are going to take your products
and resell them to their customers and running a brick and mortar physical store it's very expensive so they're gonna need to make some profits from selling your pots - that's how source work if your price correctly you should still be able to profit at least five dollars from that $10 PO sale product yes it is smaller profit margins but remember you are selling in larger quantities so where you might be selling one item for $20 and then maybe making a fifteen dollar profit you're probably making a $150 wholesale order selling ten to fifteen of that
same pot to a wholesale buyer and then you're profiting about 50 to 75 dollars from that don't worry if you can't sell your products for wholesale that's half of what your retail price is I prompted setting all you need to do is just revisit your pricing and if you probably need to increase your retail prices to make your wholesale price make sense to the wholesale buyer number three what you need to know is that marketing of wholesale is going to be a very different game than marketing retail these are two types of customers that require
kind of a different way that you communicate and market to them and I know entire businesses who all they do is just wholesale or all they do is just retail and I've done both at very large quantities so I kind of have a sense for how different they are so if you're doing retail only think of it more as like your marketing one-to-many because you need to have a lot of customers to sell a lot of products and make a lot of money but if you're selling wholesale you don't need a lot of customers you
need just a small for them because remember they are placing very large orders with just knowing that that means that the way you communicate with them is also kind of different the way you've communicate to wholesale buyers requires a little bit more of like a high-end customer service touch when you are servicing them so the reason I'm talking about this I just want you to be aware of that so that when you're getting into this or at least when you're deciding if wholesalers right for you or not to know what your strengths are I do
know people who are better at doing that one-on-one interaction with people whereas when you're doing like the one-to-many when they're selling retail can feel a little bit like inauthentic or kind of fake or just awkward so just know where your strengths lie and that will help you understand better how to create your strategy for retail versus wholesale I have a question for you which of the points that I've just talked about it's something that you need help with what do you have questions about currently about what you need to do to start selling wholesale let
me know in the comments the fourth thing that you need to know when selling wholesale is are you ready with a wholesale package so let me talk about a few things that you might want to include in a wholesale package the first thing is a line sheet or a catalog a line sugar catalog is basically like a document usually it's digital you can print them out if you want to and if you're doing the trade shows with that a whole other topic but it's usually a digital document and it's got multiple pages in it and
all it has is like pictures of your product usually on a white background the product name and the pot prices so it's kind of like a condensed version of your online website but in a very concise manner so that the buyer can just quickly flip through the pages to know what products you have that you're offering in your wholesale collection along with all any other information like dimensions of the size of your product as well as the prices other things that you might want to include in your wholesale package is your terms and conditions so
you have to decide for yourself what you're going to do in case there's a return that the buyer needs to exercise but there is an exchange they would like to make or items break during shipment like think about returns and exchanges and refunds and what are your policies in regards to those things make that clear and upfront from the beginning so all parties know what to expect in case things like that happen your terms and conditions will also include information like what's their minimum order amount and what's your reorder amount so wholesale buyers can't just
buy one item from they don't get to have that discount of that wholesale price point by just buying one thing right because what's the point those are a few dollar figures that you need to design as well and include that in your wholesale package because that's information that the wholesale buyer is going to want to know from the get-go other things you might want to include are things like your turnaround time your shipping time your shipping fees and also an ordering sheet the third thing to consider in your wholesale package is your product packaging so
you might have different packaging when you're selling retail versus when you're selling wholesale and the reason for this is if someone is just buying your product like one necklace from your website and it's a gift for their girlfriend for example might have two different packaging for that versus when you're selling to a store because a store would need to display your products on their shelves and you need to account for that because if your packaging isn't set up for a physical brick and mortar space of displaying your products on their shelves it's not going to
sell you know the foot traffic in a store they need to be able to see touch feel maybe even where your products so the packaging that you set up for that needs to be conducive for that kind of environment and maybe your product packaging is the same for retail and wholesale and that's totally fine too but something to consider is just it might be different depending on what you sell the fifth tip I have for you is if you sell a children's product you might want to consider or start looking into getting product testing done
and getting labeling set up for your product packaging so it is very expensive to get product testing done because every material and supply that you use to make your end product needs to meet certain criteria just for the safety and health of children there are very specific rules for that and if you are selling a children's prop you just have to be careful and aware that that is something that needs to be done especially when you start selling wholesale to a lot a lot of stores you might also want to consider getting liability insurance just
in case anything happens if you are super excited about selling your products wholesale definitely check out the next video thank you for watching and I'll see you there
