Craft Business – Top Two Pricing Issues
Thousands of people are taking their love for creating beautiful crafts and turning it into a thriving business. The big question when starting a craft business is figuring out how much you can earn selling your crafts.
Here then, are the top two craft pricing issues:
How do I price my crafts for selling?
Learning how to price your crafts to sell is extremely important as you want to earn maximum profits from all your hard work. Typical retail stores price their products at 250%. This means retailers multiply wholesale cost times 2.5 to get their retail price. Continue reading
Who are the Different Entities Involved with Selling to Gift Shops?
Deciding to sell your products to gift stores can be overwhelming if you are not familiar to the roles and ‘players’ in the industry. For example, should you hire a sales rep or a wholesaler or a distributor to sell your products? And what is the difference between the three?
Following is a short listing of the different entities involved in selling wholesale and what their primary role entail:
Distributors: An intermediary between producers and retailers, with large warehousing capacity and a sales and delivery force servicing stores in their area or region. Different from reps, in that they purchase directly in quantity, and take both ownership and possession of the products, for delivery. Distributors sell (often with the use of reps or brokers) and collect payments directly from the stores. This is the dominant method of food distribution in grocery and food service.
