One of the best ways of maximizing profits for your online jewelry business is making sure you choose the best bead suppliers for making jewelry so you can reduce your overhead while always keeping a stock of good quality beads to craft your products. As you develop your business you’ll create your own list of favourite suppliers for the different types of beads and crafting materials you require, but to start with is a good idea to focus in creating a good relationship with one, or maybe a couple of wholesale jewelry suppliers instead of spreading yourself too thin.
Choosing What to Sell
If you are just starting your online jewelry business it’s probably easier to focus on selling just a few high quality products instead of creating hundreds of very different designs and struggle to get them sold. Try to stick to a theme, so you can use the same beads on different designs. Matching sets are great for this: you can make a beaded bracelet with matching earrings and a necklace, and sell them all together or individually. This means you can buy the required beads in larger amounts, which is usually much cheaper than buying lots of different beads in smaller amounts.
Try Seeing Samples or Going in Person
Finding local bead suppliers for making jewelry will not only decrease the carbon footprint of your designs, but it will also allow you to go and shop in person. This way you get to actually see the beads before buying them, and ensure they are of the quality you expect, and you can carry your purchase home with you and get started crafting as soon as possible. While buying from a supplier in China may be cheaper, you risk ending up with a lot of low quality plastic balls instead of the beautiful crystal beads you ordered, and returning items is not so easy. But if you prefer to go the online route, ask for samples or make a small order first, to minimize your risks.
Look At Reviews and Past Business Performance
There’s nothing more annoying than having a best seller jewelry design and finding out that the supplier of its key beads has gone out of business or is discontinuing them. This would, at the very least, force you to go through the process of choosing bead suppliers for making jewelry again, and at worst mean that you need to change your design to use different beads and risk losing sales. So if you are considering different suppliers look for those that are old and well established, and have a proven track record of actually delivering the orders on time. Looking at online reviews is one of the best ways to ensure that your efforts researching aren’t wasted by choosing a supplier that is not reliable enough.
Become Familiar with the Average Prices of Beads
High quality beads are always going to be more expensive than cheaper alternatives, and being aware of the average price of your supplies will make avoiding scammers much easier. For example, if you find semi-precious stones at the price of plastic beads you should assume that there’s something fishy going on. While some suppliers use heavily discounted items to attract new customers, if somebody has all their stock at significantly below market prices it may be a case of a scammer trying to run away with your money, or you may discover on arrival that the beads aren’t as advertised. This can cause lots of delays and disruption, so it’s better to avoid deals that sound too good to be true.
Once you have shortlisted a number of suppliers that stock the beads you are interested in, it’s time to check out their prices and how many beads compose a minimum order to access wholesale prices. Many wholesale jewelry suppliers offer wholesale prices only for orders past a minimum value, instead of a minimum amount of beads. Sticking to just a few suppliers that stock most of what you need makes getting the best prices easier because you can buy lots of different jewelry beads on the same order, and lower the overheads in terms of delivery costs.
Payment Terms and Conditions
Most suppliers won’t let you open a credit account with them until you have been a good standing customer for a while. If you are looking at how much money do you need to start your business make sure to include some to buy those first batches of beads to make jewelry to get the ball rolling. Keep in mind that in some cases you can get even better prices if you offer to pay when you place your order, and some suppliers will offer further discounts if you prepay your purchases. While this means higher costs upfront, it also means you can get your suppliers at even more competitive prices, and so you have a higher margin on your own sales.
Choosing the right bead suppliers for making jewelry means you'll be able to spend less time trying to chase your orders and finding supplies and more time actually fulfilling orders for your clients. If you are careful to balance the price of your suppliers with their quality and the level of customer service you'll be able to sell jewelry at a profit, without the headaches caused by a bad supplier.