Are you looking for wholesale jewelry supplies and not sure how to navigate your options? We explain what to look for and how to find it here.
Jewelry-making crafters and hobbyists are always looking for great deals on supplies. Fashion retailers are also on the lookout for high-quality wholesale fashion jewelry. The hitch often comes when looking for wholesale jewelry supplies from reliable online stores.
Family-owned Cousin DIY is based in Florida and also operates an extensive online craft store. For over 40 years, we have specialized in arts and crafts, and floral and home decor products. We are devoted to the craft and know you are too.
That’s why we’re happy to share our guide to finding the best wholesale jewelry supplies with you.
Costume Jewelry Delights
Costume jewelry is fun, creative, and inspiring. It is the most versatile of fashion accessories. Crafted pieces provide huge scope to incorporate something of the individuality of the wearer.
This is especially true when you are able to procure original materials with ease, no matter what your project. Often your creative output as a costume jewelry maker is limited by the quality and the price of the materials you are able to source. This is when buying wholesale has its advantages.
The first advantage is that by sourcing cheaper materials you can increase your profit margin. Another option is to pass on the saving to your customers by offering your jewelry pieces at a more competitive price.
One thing is for sure: by being a better entrepreneur, you free up time and money to produce more pieces with more variety in your range. As a retail business or even as a sole proprietorship, you need a supplier as a partner you can count on.
Going through the proper registration so that you can take advantage of wholesale offers is the first step towards spending your money wisely.
How Do I Buy Wholesale?
As you probably know, the wholesale business model is based on volume. Wholesalers rely on selling bulk quantities of goods quickly. That is why they are able to offer lower prices.
They take advantage of what manufacturers call “the economies of scale.” This does not mean that you as an individual or small business are excluded from the opportunity to buy wholesale. Far from it.
You start by doing your research to find sellers of the goods and materials you will need, and vetting their bona fides. But first, you have to do some administrative work of your own.
Get a Business Licence and a Tax ID Number
If you’re planning to resell wholesale items, you will need to get a business license with a valid tax ID before you start. The Small Business Administration (SBA) can help you to register your business.
You need to make your business a distinct legal entity. Your business structure and where your business is based will determine how and where you need to register. The SBA will help you by directing you towards the correct application form.
You will need to describe the nature of your business in your application form. Details such as what you are buying and your possible intention to resell the items to other customers should be included. If you are going to make jewelry with some of the products you buy wholesale and then sell your creations, then that information should also be included in your application.
It is not a complicated process to register. Some government offices allow you to do this through their website. As soon as you register your business, you will get your tax ID number, also known as a federal employee ID number.
What If I Am Purchasing Wholesale Jewelry Supplies For Myself Only?
If you’re purchasing wholesale products for yourself only, you don’t need a business license. You can buy wholesale without a license, but you will have to pay sales tax.
If you have a valid tax ID, then your wholesale purchases will be exempts from sales tax. It is only when you resell to your customers that they will have to pay tax on those goods.
So, by having a tax ID, you save money by not having to pay sales tax, and you get the benefit of the lower price by buying wholesale. That’s a personal win-win situation!
Who Needs My Tax ID?
Legally, when you buy from a wholesale manufacturer or distributor, you need to provide them with your tax ID. This is a condition of being able to apply for the exemption from tax on your purchases.
So, wholesalers will ask for your tax ID whenever you place an order. In terms of data gathering, wholesalers have to keep your tax ID details on record so that they can prove that they have been selling to certified exempt customers only.
Being legitimate is the way to go. It makes for good business sense.
Once You’re Registered Research the Wholesale Landscape
The way to get the best wholesale deals when sourcing materials is to research the wholesale companies that sell items you’re interested in. Do price comparisons on, say, five different items. Engage with their sales team.
Ask if they have a minimum order quantity. Ask whether they have any discounts for larger orders. Ask about current promotions and loyalty programs – and any other useful information you can think of.
Most of all, make sure that the wholesalers are reputable. That means checking their Better Business Bureau rating, and reading online reviews so that you can verify the trustworthiness of your potential wholesale supplier.
Get Inspired
Once you’ve got as much information as you need on the wholesale jewelry supplies landscape that you need, it’s time to start placing your orders. Getting jewelry-making supplies wholesale is guaranteed to bring a whole new perspective to your business.
Cousin DIY has a full-service approach, so you’re likely to find exactly what you’re looking for in our store, no matter what fashion trends you follow. It’s not only the huge variety we stock or our environmentally friendly outlook, but our value-for-money prices that will leave you inspired.
Be sure to sign up with us to unlock access to wholesale pricing on our website. We look forward to seeing you there!