Introduction to Wholesale
Today, we're going to focus on the beginning is about a guide to selling wholesale, and really, my focus here is to help you determine whether or not wholesale is the right avenue for you, so it could be really profitable. It can be a really great way to grow your revenue streams, but we want to make sure that it's the right fit for you, because it is a lot of work as well. So let's start off by talking about why hold sale? Everyone is here for very different reasons, right? You all have very different businesses, and you have different goals for that business, but ultimately, the common thread here is that you want to grow that business, right? You want to grow it, and you want to make more money doing the things you love, so I'm here to help you determine whether wholesales the right fit for you. So, do you want to diversify your revenue stream? So you're not relying solely on your online sales or your custom work? Do you want to sell your products to a wider audience? Maybe two more...
stores or two more individuals as well? Do you want to focus your time on building relationships with a customer that's going to repeatedly by from you, over and over again, in larger quantities, rather than focusing on one buyer at a time you know, through and it's your online shop these air some of the advantages of selling wholesale this's sound like you? Yeah, lots of head shaking in the audience so is this you? You know, maybe you have an existing product line um what that is doing well, it's doing well online, you have maybe you know you're getting a lot of orders to your online shop directly or your etc shop but you know that there's money still on the table there and you want to take it to the next step? This was me in two thousand eight I started my business mostly through at see at the time and I wanted to grow I felt like there was more money that I was leaving on the table and that you know, my current clients really liked my work, but if they like the stores would probably like it too, right? So that was me maybe retailers are contacting you. This is something I'm hearing from a lot of michael voting clients right now they're getting contacted by retailers to their social media feeds or just having seen their products. You know, on the shelves of other stores I'm sorry on their online shop and they're like, you know, we want to carry it, but but maybe you don't know where to start maybe that too, or maybe you're already selling to a few stores, but you really haven't taken off and you haven't hit destroyed that you want to really gain the moment him and get into more stores that you'd like to really see maybe it's just a handful right now, so if this is you thes air, the types of things are going to be covering today here's some other options are you a calligrapher, a photographer, somebody wanting to get into a product based business? Maybe you're an artist right now and you're offering services, but a product is what you really want to offer. We're going to talk about how to pray prepare the products for the wholesale market, your brand you want to plan ahead, you aren't sure where to start or you just simply don't want to waste your time and money learning this on your own you want to learn from people that have been there before they've done it and they succeeded at it. So you know, when I started tradeshow boot camp in two thousand eleven, my main goal at the time was to have a support system and an education platform so that I could also learn my my colleague s and together we could support and help each other for our businesses and so you know there's, a lot of value in community and my my motto so to speak for boot camp is collaboration community and education because together we can do amazing things and so that is really why I'm here today to teach these courses so selling wholesale can be a really great way to diversify your revenue streams like we talked about money coming in from different places it helps to make a little more stable your business it can credit provide exposure to a larger audience right? You're getting in front of a different customer base potentially lead to more sales to again because it's a different revenue stream and then you know you're also going to have to create better systems and processes if you're selling wholesale and that's one of things we're going to talk about today as well but that also help the retail side of business too so we'll talk about the benefits there s so as I mentioned, I have a stationary line I started this line in two thousand eight see I took the plunge and exhibited at the national stationary show in two thousand nine for the very first time which was just seven short months after starting my business and I made some big mistakes along the way my pricing wasn't where it needed to be I wasn't falling industry standards these were things I just didn't know I wasn't aware that I was doing it wrong but once I got there it became very clear so you know there's a lot of we want to create art right? You want to be the artist but you also need to be in tune with the business side of running your business and you want to know that you're falling in line with industry standards so again the reason I'm here to teach you because I've experienced this firsthand but then I also have the business background I have an mba a dual mba in marketing and finance on dive also coached entrepreneurs and large corporations for last fifteen years about business development strategies so what I've been doing with boot camp since two thousand eleven is really an awesome hybrid in my opinion it's my sweet spot of you know the business aspects that I love with working with passionate creative entrepreneurs on ge also my background and growing a business of my own so that's a little bit about why I'm here and how I can help you okay, so I want to ask all of you in the online audience as well as her audience in studio here what is one thing that you would like to learn specifically during this wholesale beginner's course um carried to have anything I'm looking forward to just hearing more perspective about the buyer and what is the buyer expect to see what kind of experience do they expect? I've launched a line already but I'm always you know, contacting buyers or marketing and I have no idea how it's being received and so I think that's something that I hope tio takeaway and I'm sorry I should have this is to tell us your name and your business and what you sell sure kerra underwood and my businesses underwood letter press um I have a line of greeting cards aren't prince wrapping paper other gift items great anyone else from the audience one share my name's, katie casey and my business is baying boardwalk and I also have a greeting card stationary line and I would love to hear more about some of the mistakes, but you mean so that I've got lots to share their I haven't started the whole sale process yet on dh would love to learn from others and try to avoid them if I can blossom lord, you do want to share I am lara bridges and I'm a metal smith and I have a jewelry line called ate his jewelry and for me, it's kind of similarly similar to what you said but really just connecting with buyers without annoying them. Um, I'm really less of the sales person, more of an artist trying to become more of a sales person and I know like I don't like to be bothered, so I need to be more aggressive but in a strategic kind of away, so I'm hoping to learn just some ideas about how to do that that's a major hurdle that I hear quite a bit where people don't want to come off a sales the they don't want to feel like you know I'm constantly pushing myself on the people that aren't interested in my product well, we'll talk more about that today and then also in our marketing for retailers course as well okay, so what thank you all of you for sharing I really appreciate that. So what are we going to learn today in our beginners wholesale class? We're going to learn the difference between retail and wholesale there's some very big differences here we're going to talk about how many products do you need in your line before you start wholesaling? We're going to talk about releasing new product and why this is super duper important before you wholesale. Whether your current pricing structure works for both retail and wholesale and if you continue to do both why it's very important that they sync up on dh? Then what too, including your wholesale terms and conditions? Eso let's kick it that off that seem also can open a lot of doors for you it's a great way like I mentioned to diversify your revenue streams grow your audience, reach a larger business, reese, larger business goals and so by the end of this workshop my goals for you are that you'll leave confident knowing that wholesale is is or is not the right next step for you? And if it is, I want you to have the steps to get there. So I want you to have a clear understanding of what you need to prepare before selling wholesale. How you can refine your products, your pricing and your process to make it possible.