So, you may of found my post “Is wholesale right for your handmade business?”
and now you’re taking a step forward by checking out this step by step guide. If you didn’t catch that last post – that’s cool too. Welcome! Let’s perfect your wholesale pitch and prepare for landing those buyers.
Let’s just assume you have decided that wholesale is an option for your business that you’d like to explore. First and foremost you must price for profit. If you fail at this, your entire wholesale business model will fail and you’ll most likely lose some cash & maybe even some credibility. We do not want that to happen.
Take your Cost of Goods, Overhead, Labor and Expenses that you need to roll into your pricing structure & bam…. you have your wholesale price. Okay, it’s not THAT simple but I hope that you have your pricing down since you’ve probably been selling retail for yourself. Generally it’s everything listed above x 2.5 = wholesale. (wholesale x 2.5 = retail) — again, it’s not THAT simple, however you can mark up as much as you’d like if you think you can get that price. Swing for the fences.
A linesheet is a quick way for potential buyers to view your products/offerings and be able to place an order. Whether your linesheet is online or a PDF with order form, or some form of both is up to you. However, having a linesheet is the second most important thing – this is your product on paper. The entire being of your wholesale business. Make sure that you have great photos, preferably with a solid white background. Let your goods speak for themselves.
Personally, I have my entire linesheet available online so that buyers can browse my selection and purchase directly through my website. It is absolutely okay for your entire linesheet to be online and digital. Really, maybe that’s even better — it won’t get lost or thrown in the trash if it’s in your buyers e-mail or accessible online.
FIND THOSE BUYERS:
Where do you find potential buyers, pitch to them and get them to buy your products? My favorite ways to find buyers are to:
Search by location:
-Use local hastags on Instagram
-use Etsy.com/local and see which stores have carried Etsy products. That means they’re likely open to small, handmade items.
Search on social media:
Do you ever come across stores that are super cute and wish your products were in them? Follow those stores, engage on their Instagram – they will see you and notice you as a regular and will likely reach out, or you can pitch to them.
Try a wholesale platform such as:
indiegogo, hubba, stockabl. — These websites connect buyers and sellers pretty easily and can help you get your foot in the door. However, you do have to apply and be accepted to sell on their individual platforms.
WHOLESALE PITCH & LAND THOSE BUYERS:
Prepare a one paragraph pitch on who you are, your brand and why you think your products would be great in that buyers retail space. Leave some space to be able to tweak and personalize it to each individual buyer. It’s nice to add a personal touch so that the potential buyer can trust you. Building relationships with buyers is a major part of getting your products in stores and getting those re-orders.
LET BUYERS FIND YOU EASILY:
So, while pitching buyers is a great way to bring in stockists – you also need to have a way for those buyers to reach out to you. There is absolutely no way that you will be able to connect with everyone interested in your product. Add a wholesale application to your website, allow those buyers to submit their information to you. It’s so nice when you’re working hard on your products and selling items and the wholesale applications flow in all on their own. Win/win!
Things to ask on your wholesale application:
1) First & Last Name.
2) Business Name.
3) Re-sellers tax ID number (This is a must. It helps weed out the non-legal businesses and people who aren’t resellers)
4) Business location, address and state.
5) Type of business – Online, Brick and Mortar (BM) or both.
6) Social media handles & websites.