The cheaper you can buy your supplies for, the more money you can potentially make with your jewelry business. You want the largest profit margins possible so every time you make a sale you can put more dollars in your pocket and less back into your business. Your supplies eat up a lot of your investment and have to be replaced regularly. From wire cutters to glass beads, here are ways you can save money on your supplies so you can make beautiful jeweled pieces more cheaply for better markups and profit.
When you can, buy wholesale with some of your products. Wholesale items often come straight from the manufacturer which means you get to bypass the retailer to save money. You also get the benefit of being able to have on-hand the beads, wire, packaging, and other supplies you use the most. You can set up a contract with a wholesaler to regularly send you beads, packaging bags, end clasps, wire, and other pieces on the regular so you can stay stocked up on the tools you need to keep production strong. When buying your beads in particular, your most used item, make sure to buy from a wholesaler who has large variety of stone, glass and ceramic styles so you can make the unique and high-quality pieces you love at a lower cost.
Set up recurring purchases
When choosing a wholesaler to buy your beading supplies from, setting up a recurring order and payment plan can allow you to get a discount for being a continued or repeat buyer. Items you will often run out of, such as labels, packaging, and spacer beads will often be cheaper by having an automatic order refilled on a monthly or custom basis with your wholesaler. In choosing the same wholesaler to buy a majority of your beading supplies from, you can also get a loyalty discount, which can further increase your savings and allow you to make more money off your sales without having to raise your products' prices.
Stock up for heavy seasons
Times of year where you make the most sales of your jewelry, such as certain holidays or craft events, you want to make sure you stay stocked up on supplies you will need. Use past sales to help you determine which items you will want to stay fully stocked on and which ones you can buy on a more limited basis. This way you are only investing money into your inventory when you need to and not spending needlessly on supplies you use less often.
For more information, contact companies like Mayer Import Co Inc Imitation Stones.Share