Wholesale: How do you know you’re ready?
Wholesale, like most things in life, book writing, babies, marathon training, doesn’t call for an exact moment to get started.
But wait, you wouldn’t start writing a novel without an idea or the ability to string a few cohesive sentences together. Similarly for wholesale, you‘ll ’need to meet some basic criteria.
Here’s a look at the basics
Do you have a collection?
Retailers buy into a collection. You need a theme, a color, material to tie your theme together, and then give it a name. A collection should have at least 7–10 pieces no matter what you make. This signals to a retailer that you’re not a one hit maker.
Do you have retail sales?
Sales from online or craft shows are a good indicator of readiness. Without sales, you’re going to have a hard time justifying your line to a retailer.
Do you have social proof?
Instagram is an easy way to test demand. Tag it with your category #ceramics or #jewelry and some lateral hashtags like #designthinking. Retailers are on instagram and it’s an easy way for them to gauge demand. That way, you’re limiting some of their risk.
Is your packaging ready?
Your first packaging might not be perfect. Think of it as version 1.o. Always be ready to improve on it. It should have the basics like care instructions, materials, or how to use it.
Do you have a reasonable lead time?
Retailers understand that you might not have stock on hand to ship immediately. Yet they have certain expectation for lead times. Furniture could take 8–10 weeks but for jewelry, that would be a red flag.
Do you have linesheets?
You need a photo, SKU number, min qty, wholesale price, MSRP for each item. At the top of the line sheet, you need your total min order.
There, it’s a simple checklist. All it does is tell you, that you’re ready. It’s all uphill from here.
Vinit is co-founder of SKUE, a wholesale service for premium handmade co-created with retail experts.
