Steps To be a Wholesale Distributor of Fashion Jewelry
You may have introduced a new business or may have added a revenue stream; the wholesale jewelry distribution seems to be an attractive option always. The jewelry section can include gold, diamond or funky fashion jewelry. If you can work from home, you will literally save the overhead and storage costs. Here are the steps which are essential in becoming the wholesale distributor.
Step 1: Decide the Type of Distribution: You must decide whether you want the distribution from Business to Business (B2B) or business to consumer (B2C) type of distribution. In the B2B type, you are required to buy the jewelry at wholesale prices and then sell them to the retailers. The price will definitely remain below the retail pricing but more than the price you have purchased. If you have space for product storage and have money for the initial investments, you can definitely opt for this option. As you can buy in bulk in this case, you can earn the highest possible profit margin. Compared to the retail business, you will have to deal with smaller number of customers, especially the professionals. So, the customer service requirement is also very limited in this option. In the B2C option, you will be buying the jewelry from the wholesaler and sell it to the end users. You can use online platforms, home parties or use a permanent store for selling your fashion jewelry.
Step 2: Choose the Jewelry Type: After deciding the distribution type, you must choose the kind of jewelry you want to sell. The different types can include wholesale fashion jewelry, gold or platinum jewelry, silver or bead jewelry and so on. Costume jewelry is less expensive in nature and can be used occasionally. Fine jewelry is considered the most attractive and expensive in nature. The price varies depending upon the quality of the gems and the precious metals. You can also deal with semi precious or precious stones.
Step 3: Marketing Media: Choose your marketing platform wisely. In case of B2B, the fast and easiest way for obtaining customers will be to call the retailers and present your products at attractive prices. You can also participate in the trade shows. If you are doing the B2C distribution, you must use proper keywords, description and pricing while selling through the online platforms. But if you want to sell through your own websites, you can focus on the paid advertising.
Step 4: Create Basic Business Plan: After you have decided the above factors, you should create a basic business plan and make a list of all the resources. You can also combine the two types like B2B and B2C both in your jewelry business. You can offer two kind of pricing for two types of your customers. In B2B, who are buying a certain number of pieces, offer them a discount. In case of B2C, when the end users are buying a single piece from you, offer them the full price for it.
Step 5: Choose Your Styles: Finally, you must choose the prices, styles and the terms of your jewelry for applying as wholesale distributors in large companies. Then, just open your doors, either virtual or real, to welcome your customers.
With the wide variety of styles, types and prices of jewelry, the world market of fashion jewelry is really flourishing. The stones and gems are important and also their durability. The metals which are carrying the stones must also be sturdy in nature. If you can invest your business by buying your products from the reputed dealers, you can definitely turn your business into an extremely profitable venture.
Author Bio: Samuel Johnson is a fashion jeweler. In this article, he is discussing about the wholesale fashion jewelry and the process of starting the distribution business on jewelry.