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I make custom jewelry made of beads, crystals and natural stones. I like to start selling them to local shops
How would i approach local business into carrying my products. What Prices should i be asking? assuming my cost of materials is ten dollars for necklace, 7 dollars for bracelets and 5 dollars for earings?
I would approach shops owned by locals, not chain stores. Very few chain stores will carry local goods -- their inventory is determined by the larger company, rather than the individual outlet.
When approaching the stores, consider it just like a job interview. Make an appointment first. Show up dressed nice, be polite, and bring a wide variety of your work to show them. Give the shopkeeper the opportunity to evaluate the work -- maybe she has some ideas about particular styles she thinks would sell. If the store is already successful, the shopkeeper must have a good eye for choosing merchandise. Try to learn from her opinions.
You need to figure that the store will want to make at least "number" -- the amount they pay for the item. This is a good place to start. You probably want to make "number" on your items, too, so $7 in materials for a bracelet might be sold to the shopkeeper for $14.
The shopkeeper then needs to make about the same amount to make it worth her while to sell the item. So we're up to a $28 bracelet. Compare similar items in other stores, and be honest with yourself: will my bracelet sell for $28?
If the answer is no, here are a few things to consider:
(1) other ways to sell your item. How about eBay? You could ask $14 for the item and sell it directly to the consumer. A lot of people make very good livings on eBay! I buy things there almost every week. Another online way to sell is to register a website on Yahoo and sell your items through their online stores. How about craft fairs?
(2) lowering your costs. Are you paying retail prices for your materials? If you are serious about this project, you may wish to buy your beads from a wholesale supplier, usually at about half the retail cost. This will involve some investment, as you will need to buy much larger quantities than you do at a retail store. Wholesalers for every item in the world can be found on the internet, and even on eBay. Can you get the price of the materials for that bracelet down to 3 or 4 dollars?
I wish you the best of luck -- this sounds like a very exciting project!
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