Finding an excellent source of wholesale jewellery supplies is the first and foremost thing anyone wishing to do a jewellery selling business has to do. The wholesaler should be a credible source and this is what will determine the success of your business. It is never advisable to go through middlemen because they take a big bite out of your profits while you sit and do all the hard work.
Buying for a low cost and selling with a good margin is important for any business success. This is the foundation of any business and it is no different for jewellery selling a business. It is pertinent to find the best rates for all the items you are planning to sell. You might not be able to procure all your supplies from the same wholesaler and hence you will have to shop around and find a number of wholesalers. The mark-up rate generally in jewellery business is very high with it ranging between 100 and 1000%. Everything depends upon the supply and demand of the type of jewellery you choose to sell. Next to procuring the most important thing is how you plan to sell the jewellery.
It can be sold as an online business by opening a website or on eBay. Hosting home parties, booking stalls in trade shows are other options. Jewellery business could be an exciting one especially if it is your passion. However, it is important to be warned because not everyone succeeds. Therefore to succeed you should do proper research to understand the demand and supply. This way you will not lose money.
The most important thing is to have an excellent line up of wholesale jewellery supplies at cheaper rates. Any time buying from supplies wholesale is better than buying from the retailer because you will have lots of items to work with for a lesser cost. Below are a few tips that will help you find the best wholesale jewellery supplies to make your business a profitable one.
Online sources: any time online sources are the best to find wholesale supplies because it saves a lot of time. Further, they will be able to give at cheaper rates in comparison to those who have shops because their overhead costs are less. Further, there are many wholesalers who ship products internationally which will give you access to the exquisite collection.
Trade Shows: the second best place is to meet manufacturers directly at trade shows. It is also easier to look at the jewellery in person and pick it up at wholesale rates. Most of the time, manufacturers who put stalls in trade shows also offer discounts and showcase limited edition products that might not be available otherwise. Further visiting it will also provide an insight into the different types of jewellery, demand and supply and also an insight from experts (read as manufacturers) in the same industry.
Hobby Clubs: Join relevant hobby clubs and they will provide help to the members to get products at wholesale rates. Further being a member of the club will also help one get leverage to bargain. In such clubs, you can also discuss the business with like-minded people and get some ideas and suggestions.