Why should you buy from a wholesale jewelry supply store?
Before we answer this question, consider this. Did you pick up a new skill while staying at home during the COVID-19 pandemic?
You’re not alone: a lot of people took up new skills like baking, jewelry-making, and crafting to pass the time while in quarantine. Many of these people took their new skills and turned them into profit. As a result, there has been a small business boom in the past 15+ months.
If you’ve dreamed of selling your handmade jewelry, now is the time to make that dream a reality. Even if you aren’t selling your creations and simply want to make jewelry for yourself, you can save money when you shop at a wholesale jewelry supply shop.
In this article, we tell you what you need to know when you buy from a wholesale jewelry supplier.
Benefits of Buying Wholesale Jewelry Supply
Before you can make your small jewelry business dream a reality, you need to buy supplies. Jewlery-making supplies can be expensive, forcing you to charge more for your finished product.
Shopping wholesale allows you to lower the costs of your products and therefore lower the costs of running your jewelry business. It would be more expensive for you to go to your local craft store and buy twenty strands of beads than it would if you bought those same beads in bulk from a wholesaler.
When you buy in bulk, you can pay less for jewelry tools and supplies without sacrificing quality and increase your profit margin.
Ask Yourself These Questions Before You Buy
You don’t want to go in blind when you make a wholesale purchase and end up with something you won’t use. Before you take out your wallet, ask yourself the following questions and avoid buying something you’re not happy with:
What Style Of Jewelry do You Want To Make?
Do you want to make funky dangle earrings or stylish necklaces made with eye-catching glass beads? Each style of jewelry requires different supplies, which is why it’s important you know what you want to make before you buy.
What Kind of Materials Are You Looking For?
Knowing the kind of materials of jewelry you want to make is also important when planning what you need to buy. For example, sterling silver jewelry findings are going to cost you more than brass ones with sterling silver plating.
When you know what materials you want, you can cross out suppliers who don’t sell what you’re looking for. This makes the process of finding the right wholesale jewelry supplier go much quicker.
How Many Supplies Do You Need?
Wholesale jewelry suppliers have a minimum purchase volume (MPV), or the least amount of product they are willing to sell you at one time. If you have your eye on wholesale beads that have an MPV of 1,000 pieces and you only need 50 beads, then there’s no need to overbuy.
You want your supply to stay in line with your demand so that you can avoid being stuck with beads you don’t need and can’t sell.
Are You Making Jewelry for Yourself or To Sell?
If you’re buying jewelry-making supplies with the intent of selling your final product, you need to get a business license and tax ID number first. If you buy your supplies wholesale for the purpose of making jewelry for yourself, then this step is unnecessary.
What’s Your Niche as a Small Jewelry Business?
As a jewelry business owner, your niche is different from the style and material of the products you sell. Your niche helps you stand out from other jewelry businesses. Your niche may be that you only sell book-themed jewelry or that you make your jewelry using paper.
Whatever your niche might be, you need to make sure that there’s a demand for it. Otherwise, you won’t make much of a profit.
Likewise, you want to sell jewelry that’s trendy. You won’t move much product selling jewelry that’s considered out of fashion.
Tips on Buying From Wholesale Jewelry Suppliers
Now that you’ve answered these questions for yourself, you can start looking at wholesale jewelry suppliers. Keep the following tips in mind while you search:
Do Your Research First
You wouldn’t buy your clothes from somewhere you know nothing about, so why buy from a mystery wholesale jewelry supplier? Not all wholesale jewelry suppliers are made equal, so vet the supplier first before you purchase.
A good way of gauging how your experience with a supplier will go is by reading verified customer reviews.
Look for Their MPV
If a wholesale supplier is selling charms for jewelry making at an MPV of 100 pieces, but you need only 10 charms, ask them if they are willing to sell you a smaller amount. The supplier may be able to accommodate you.
Keep an Eye on Shipping Time
Don’t buy supplies in bulk two weeks before your product launch date if you know your supplies will take a minimum of four weeks to ship. If the supplier is selling products manufactured in another country, you want to allow for extra time to account for international shipping.
Cousin DIY: Your Wholesale Jewelry Supplier
Now that you know everything you need to about buying from a wholesale jewelry supplier, you can avoid buying bulk products you don’t like and make purchases you’re happy with.
When you need jewelry supplies, you can rely on Cousin DIY to provide you with quality jewelry-making supplies and an excellent customer experience. We are your one-stop wholesale jewelry supply online shop.
Cousin DIY is originally out of Largo, Florida, and has been a family-owned company for over 40 years. Browse our small findings blog for more tips and information on jewelry and craft making.