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Selling Handmade Items Wholesale
Sellin handmade items wholesale is a great way to earn extra income year-round.
Selling handmade crafts at local craft fairs is seasonal, and selling crafts online is often challenging.
However, developing a wholesale marketing strategy takes planning, hard work, and trial and error.
Your strategies to drive traffic to your handmade craft website will not attract local businesses interested in purchasing your crafts wholesale.
You will have to develop a different marketing strategy for those local businesses.
- Selling Handmade Items Wholesale
- Selling Handmade Items Wholesale Benefits
- Get Organized
- Decide What Handmade Items To Offer
- Know The Cost Of Doing Business
- Handmade Wholesale Pricing
- Research What Will Sell
- Preparing For Your Pitch
- Delivering Your Pitch To Retailers
- Final Thoughts On Selling Handmade Items Wholesale
Selling Handmade Items Wholesale Benefits
- Increase sales because you are selling multiple items at a time
- Increase yearly income by selling to local businesses year-round
- Potential for building a long-lasting partner
- Reach a larger audience
- Less marketing costs because the companies have a marketing plan that drives traffic to their store
- Purchasing craft supplies in bulk will increase your profit margin
There are so many benefits to selling wholesale but the best advantage, in my opinion, is that it is the easiest way for you to build your handmade craft business.
Let’s go over how to sell handmade crafts wholesale so you can start earning extra money.
The first step is to get yourself organized.
You will need to have a way to keep and file all important paperwork, including:
- Potential client’s contact information
- Current partner’s contact information
- Pricing list
- Wholesale supplier company contact information
- Sales log
- Product list
- Delivery dates
Decide What Handmade Items To Offer
Once you have yourself organized, you will want to sit down and decide what items will be best for you to sell wholesale.
Not everything you make will be a good choice for selling wholesale.
For example, if a product costs you $20 and it takes you 3 hours to make each item, and you are selling them for 40 dollars, you might not want to offer them because the profit margin will be too low for the time invested.
Instead, make a list of each handmade item and include the time it takes you to make them and the cost per item.
Next, list which items you can pump out quickly, and the costs of supplies are low.
These will be the best selling handmade items to offer to other businesses.
Related Post – Best Craft Ideas For Business
Know The Cost Of Doing Business
Before creating a pricing strategy, you will need to know the price of doing business, or you can easily lose money.
The first step is to write down all the costs of making a product.
Next, calculate an hourly wage by multiplying how long it takes to create the item by how much you would like to make per hour.
This will become your baseline price.
Offering wholesale prices will lower your profit, but you might make more at the end of the year in the long run.
Handmade Wholesale Pricing
To start, you will want to list the crafts and the prices you sell them online and at local craft fairs.
These prices (retail prices) will be the same prices the retail store will be using.
Usually, wholesale prices are 50% of the retail prices.
For example, If you sell a handmade dog toy for $20 the wholesale price will be $10.
Retail Price – 50% = Wholesale cost
$20 (retail Price) – $10 (50% Of Retail Price) = $10 (Wholesale Price)
This is one way you can set your retail prices.
The other solution is to price discount incentives.
For example, 20% off 20 items, 30% off fifty items, and 50% off 100 items.
You can come up with whatever discounts work best for your handcraft business goals, but these are some examples that work well.
Research What Will Sell
The next step is to find out what items are selling the best and how much they are selling for.
Take a list of the items you are planning on selling wholesale and
The easiest way to get started is by searching handmade craft websites, blogs, Pinterest, Facebook, and Instagram.
Write down the prices of the items that are similar to yours.
Next, list all the local shops that sell similar products at the same price range as your handmade items.
Include in your list:
- Store name
- Contact info
- Website URL
- Social media sites
- What products will you pitch
Preparing For Your Pitch
Get organized before you reach out to businesses about selling your handmade items wholesale.
What You Will Need:
- A pricing list including retail prices and wholesale discounts
- Business cards with your contact information
- A brochure of the handmade items you will sell wholesale (Bring a few products with you if you meet in person so they can physically see the quality of your work.)
- Product delivery estimate (Make sure you allow yourself enough time to make and deliver the products. It is always a good idea to add a couple of weeks to the timeline in case any obstacles come along.)
Delivering Your Pitch To Retailers
You might feel uncomfortable when you first start sending your pitch, but it will become easier in time.
Remember that the people you will be talking with are just like you.
They are in business to make money, just like you are.
Keep the pitch short and explain:
- How you found their business
- What you like about their business
- How your handmade goods fit in with their business
- How many years have you owned your handmade business
- What can you do for their business
What will finalize the sale is the quality of your handmade items and the profit margin they will generate per sale.
Final Thoughts On Selling Handmade Items Wholesale
Selling handmade products online and at craft fairs is an excellent way to earn a living.
What is better than making a living doing what you love to do?
There is an opportunity to grow your business by finding wholesale buyers.
They are out there. All you have to do is start looking for them, and you will soon realize there are a lot of businesses buying wholesale handmade items.
In this post we covered:
- How to get organized for selling handmade items wholesale
- How to price handmade goods
- How to decide what will be the best handmade items to sell
- how to sell handmade items in stores
Now all you have to do is get started. Before you know it, you will earn more money than you ever thought possible.