Considering branching out into wholesale?
You may have found success selling your products directly to customers at markets or online through your Etsy or Shopify store, but are you prepared for wholesale?
If you want to expand your reach and grow your business, branching out into wholesale can be a massive boost.
Creating business relationships with retailers, galleries and stores to sell your work in bulk not only opens new revenue streams but can also establish your brand as a recognisable presence in the market.
Here are the top five reasons Australian makers should consider wholesale, with practical resources on preparing your business for success.
1. Expand Your Presence
One of the most compelling reasons to consider wholesale is the ability to significantly expand your market reach.
Selling directly to retailers and galleries allows your work to be available in multiple locations, broadening your customer base far beyond what you could achieve on your own.
For makers, this means reaching new demographics who may not have discovered you otherwise. Whether it’s through local boutiques, galleries, or online retailers, wholesale can get your products in front of more eyes, increasing your visibility and brand recognition.
2. Steady Revenue Stream
Wholesale offers makers a more predictable income compared to direct-to-consumer sales. Instead of waiting for sporadic sales from markets or individual customers, wholesale accounts typically place larger orders upfront, providing you with a more stable cash flow.
This steady revenue stream allows you to plan for growth and reinvest in your business. Bulk orders can also help offset slow sales periods, creating a more consistent flow of income throughout the year.
3. Less Time Spent Marketing
Selling through wholesale channels allows you to focus less on individual customer sales and more on your creative process.
When you partner with retailers, they often handle much of the marketing and promotion of your products, saving you massive amounts of time and effort. Wholesale orders also take much of the guesswork out of pricing and inventory management, providing you with clearer expectations for production timelines and sales volume. Remember, this is why they are purchasing your products at a wholesale price, not so they can “get it cheaper” but because they also have costs associated with ensuring the successful sale of your product.
4. Increase Prestige
Being featured in well-known galleries can elevate your brand and business cred. Having your products on the shelves of reputable retailers or established galleries can send a strong message to consumers that your work is not only high-quality but also worthy of attention. In many cases, galleries are seen as trusted curators of products, so setting up a relationship with them can help solidify your reputation as a professional in the craft and design community.
5. Opportunities for Growth
Wholesale opens up the possibility of long-term partnerships that can lead to growth. When you establish a wholesale relationship, you may be able to secure repeat orders or expand your product range in the future. This creates opportunities to scale your business and build relationships with industry influencers who can offer you valuable advice and support as your business grows.
How to Prepare Your Business for Wholesale
If you’re ready to dive into wholesale, there are several crucial steps to take in order to ensure that your business is properly set up and prepared for wholesale. These preparations will help you present yourself professionally and protect your business in the long run.
Stop second-guessing yourself and move forward with confidence.
Members of Make Good Things Happen have access to handy resources to support their wholesale journey, as mentioned below. Not a member? Join here
1. Create a Product Catalogue
A product catalogue is essential for presenting your products to potential wholesale clients.
It should include
- high-quality images
- detailed descriptions of each item
- wholesale pricing
- highlight key product features
- materials used and dimensions
2. Establish an Ordering System
An efficient ordering system is vital when dealing with wholesale clients. Whether you’re selling through a physical store or online, you need a streamlined way to receive orders and track inventory.
Consider implementing an online ordering platform or a simple system that is scalable, so you can manage large orders, track stock levels, and send invoices without confusion or errors.
3. Write Wholesale Client Terms and Conditions
The most important step when entering wholesale is creating clear and comprehensive terms and conditions.
It should include
- the terms of sale
- payment methods
- delivery times and returns
- important policies
4. Wholesale Pricing
Create a pricing strategy for your business that supports a wholesale price so that you don’t go out of business for the sake of having your products appear in your favourite store.
Branching into wholesale offers Australian makers in business the opportunity to expand their brand’s reach, secure a more reliable income, and form valuable industry partnerships, but it’s so important to be prepared. Members of Make Good Things Happen have access to watch this informative video so you can answer the question… “Can I afford to Wholesale?“
Only have time for one thing right now?
Do this.
Already selling wholesale? Review and refresh your Terms and Conditions and Order Form and send an updated copy to your current retailers.
New to wholesale? Create a list of potential stockists in a spreadsheet and do some research into the “gaps” they have in their shops that you might be able to fill.
Get prepared for Wholesale with further watching
Not a member? Join here for only $29/m.
