I don’t think I can earn any profit from selling my crafts if I am buying all my supplies retail. Can I buy wholesale?
I agree with you that it is very difficult to earn a profit if you are buying your craft supplies at retail prices. However, to qualify to buy goods wholesale, you usually have to have several business qualifications, such as a yellow page ad, a business checking account, and/or a resale/state tax certificate. All manufacturers, distributors, importers, and discount suppliers have their own policies when it comes to allowing a wholesale account to be opened. Plus you’ll need to deal with minimum orders and quantities. For example, a supplier may require a minimum order of $250 to be placed and only sell in quantities of 12 or 144 or cases or pallets!
One thing to keep in mind: If you don’t qualify currently to set up a wholesale or discount account with a manufacturer or distributor, watch for sales of your main or most costly supplies. Learn to stock up when materials go on sale. It’s all part of the business side of selling finished crafts. You need to think ahead and keep important supplies well stocked at reasonable prices.
Maria Nerius is the Resident Craft Expert at FaveCrafts.com. She’s discovered www.CutRateCrafts.com as one of her favorite places online to buy discounted crafts.