What is Wholesale?
To review, wholesaling is when artists sell their original works at a reduced price to retailers, who market and sell them to the public at a marked up, retail price. This process—in theory—allows artists to focus primarily on the making of their art while leaving much of the selling side of things to the retailers.
As we mentioned last week, the key to wholesaling is producing multiples of your artwork. You must find a way to create your product in bulk, in a lean and cost-efficient way, that allows you to sell in greater volume to the wholesaler at a lower price. If you aren't willing or able to mass produce your work, wholesaling is probably not for you.
ADVANTAGES OF WHOLESALING – they are big!
For many artists, the primary advantage of wholesaling is the time that is freed up for you—the maker—to concentrate on what you love most: creating and being an artist, not a marketer or salesperson of your own work. There is, however, no way around some degree of recordkeeping. You will still have to keep track of your sales volumes and stay on top of delivery deadlines, but the day-to-day process can be much more focused on being an artist instead of a business-person.
Another huge advantage of wholesaling, when done correctly, is that this process can provide a consistent stream of revenue for the artist. Particularly if you garner repeat customers—those who want to continue to buy from you on a regular basis—this can mean a steady business for the foreseeable future.
This year we've been focusing on topics around revenue generation for makers and artisans. Early in the year we started with a series on Branding, then Retail Markets & Shows, and then E-Commerce. This quarter we want to shift to Wholesale concepts.
In the next few weeks we'll be exploring wholesaling as an artist or maker—what it is, how it works, what the advantages and disadvantages are, and how, if you decide to pursue a wholesale plan, to set prices that fairly and consistently reflect the value of your work and product.
In this Article:
In short, the retailer concentrates on selling the products so that artists can concentrate on actually creating their work.
Whippin' out those credit cards... Ka' ching. Ringing in those sales. Nice cool breeze blowing.
Customers buzzing about your booth happily offering to pay the listed price for your handmade work. Take a little lunch break and chat with a few interested strollers. Close out your day with a nice list of emails for anxious customers-to-be. Home in time for dinner and ready to roll for the next show - next weekend. Time to head back into the shop to work on a new cool design you've been thinking about....
In this Newsletter:
• Our January Game-Plan
• Defining your Brand Strategy ~ some background ~
• Join the Conversation
• How to Participate & Connect
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Without further ado, I'd like to get to the details that bring us all together.
We've up'd our game plan for our FREE Memeber Meet-Ups and hope you find it to be a promising step towards getting you more content and more support.
I talked at length about the background of how we will be structuring these events, and how we made the decisions. You can read all about that in my blog post here.
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