Let's face it, the most expensive part of almost any creative craft whether it is scrapbooking, knitting, painting, beading or anything else is buying all the raw supplies that go into making something beautiful. To really get good at a craft you have to buy a lot of supplies and repeatedly make mistakes while learning your craft, and that gets expensive. Even after you've mastered the art form you're working with buying the raw materials is still one of the most expensive parts of any hobby.
That's where buying your craft supplies "wholesale" can really help keep your profits high and your expenses low when you're first starting to sell your own items out of your home or in a store. Unfortunately buying supplies wholesale is not quite as easy as it seems.
The word "wholesale" is often used as a substitute for "cheap" but that's not really what wholesale means. Normally when you buy raw materials to make a craft you're buying them in small quantities from a store. At an earlier time that supply store bought larger quantities from a wholesale vendor of the materials somewhere.
By buying larger quantities the store was able to get a lower price, which they can then mark and sell to you. Selling in a store is sometimes referred to as retail sales. This is how most retail stores work.
Retail stores are simply stores that sell one or two items at a time to people while wholesale companies usually do not deal with the general public, don't have a showroom and only deal in big quantities of items. When you buy things wholesale you often don't pay sales tax on the items because it is understood that you will eventually sell the items and collect sales tax instead.
First, you will almost definitely need a wholesale license. A wholesaler's license basically allows you to buy items from wholesale centers without paying sales tax. Yep, when you buy things wholesale you do not pay sales tax. But when you then sell the items you bought you must collect sales tax and give that tax to your state. Most true wholesale craft stores require that you have a real registered business with your state commerce department as well as a "wholesaler's license" which can usually also be obtained through your state. Most true wholesale establishments will ask to see your license or see proof of your legal right to buy items wholesale.
Now that you can buy items wholesale you'll need to find a store to sell you the craft supplies you need and want. You'll probably have to commit to a large order of items and you may even have to purchase supplies regularly to stay in the wholesaler's good graces. In some fields wholesale sellers are very picky and may actually not allow you to buy from them until you've established yourself.
With a little persistence and some effort put towards your growing craft business, you can really save a lot of money and obtain some great supplies to expand your creativity through wholesale distributors!
Before you buy wholesale jewelry, it's important to ask yourself if these wholesale prices are really wholesale. It's easy to be lured by supposedly cheaper "wholesale" prices or the idea of a bargain, but you'll save yourself a lot of money by being an informed consumer. Before you attempt to buy a wholesale diamond or other piece of jewelry, read this article for some critical tips that can help protect you and your investment.
While some wholesalers are honest and legitimate sellers, others do misrepresent their products. This means you may buy a diamond that you believe to have a certain color or clarity grade only to unhappily discover you've actually purchased a lower-quality product that's worth much less. In some cases, you can wind up paying double what you would pay for a similar quality diamond with a traditional retailer. So, how do you protect yourself?
1. Always look at the product first.
Unless the retailer offers a clear and established refund policy in case of a misrepresented sale, never buy a valuable product without first examining it in person. Look at it on a dead-white background and be thorough in your examination for flaws, like blemishes or internal feathering.
2. Get the facts in writing from your wholesale merchant.
When you buy a precious gemstone, get the jeweler to write all the product's details down on the bill of sale. This includes the carat weight, color, flaw grades, cut, clarity remarks and dimensions. If the diamond or stone is certified, obtain a copy of any of these reports or certifications.
Also, if the piece supposedly comes from a well-known design house (for example Tiffany, Cartier or Arpels), and this affects the price, ask for the original designer to be noted on the bill of sale as well.
Once all this is noted, set an approved time period to allow you to have the piece appraised and the purchase approved. For example, note whether a two-day or thirty-day time period is allowed. Before you sign anything, make sure you're signing an approval form and not a purchasing contract.
3. Know that people don't give away precious gems.
Because of the current gem market, it's very unlikely that someone is going to give away a particular stone or gem. While there's definitely room to negotiate and maneuver, the price of certain gems tends to be set within a particular range. This means that if a deal is too good to be true, it usually is.
When purchasing jewelry online, take the following considerations into account.
How can I buy wholesale products safely?
Look for a retailer that outlines every facet and aspect of the piece and actually tries to inform you, the buyer, rather than dazzle you with big words and uninformative adjectives. You want sites that offer descriptions of the stones and pieces that are written or cleared either by certified gemologists or jewelry experts.
Where can I learn more?
If you're not comfortable with your knowledge level, try visiting a traditional, retail jeweler to get an idea of non-wholesale prices, but also stone terminology and styles.
How can I protect myself on auction sites?
When purchasing wholesale jewelry through an auction site, always read the fine print and study the auction's terms and conditions thoroughly. Make sure that you can return the item if you're not completely satisfied, and be sure to read a seller's reviews. Once you've purchased and received the item, take it to an appraiser immediately to make sure the stone matches the quality assessment given to you by the seller.
What is escrow payment?
For large-scale items, you may want to consider putting the funds in escrow. This means a neutral third party will hold the payment in tow until the jewelry has been assessed by an independent appraiser. Once the appraisal is finished, the funds go to the seller and the piece goes to the buyer. This method typically comes with a small service fee, but can be a very effective tool to protect against potential fraud.
Both Jt Miller & Jared Adams are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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