It is essential to have wholesale source for buying pearls, especially if you are in handcraft jewelry business. Obviously, handcraft pearl jewelry is a lucrative market but even competitive. So, to gain an edge besides creating exclusive designs, you need high quality sea gems sourced, at economical rates.
How to find a reliable wholesaler?
To find the finest pearls in the market at lowest price needs knowledge, experience, and expertise. Best sources for pearls are the farmers or the ones that buy directly from them. A preferred online source is PearlsOnly. You get a wide selection of pearls in variety of shapes colors, sizes and types.
As a beginner in jewelry business, you must bear in mind that cash flow management is the first aspect you need to learn. Lack in managing cash flow has been the downfall of majority of small handcraft jewelers. Therefore, not just tax deductions documentation is critical but even controlling your budget by buying pearls from wholesale supplier is equally important.
How to set a wholesale account?
Wholesalers offer great discounts but will depend on the order size. When first order is placed, this works in your favor. You don’t have any stock, so your first order will be substantial and you can take great discounts on large wholesale orders.
To set a wholesale account, you will need Resale Tax ID number, which is issued by your government agency during business registration. Give the wholesaler this tax document and your discount purchases get approved. When pearls or any other gemstones are purchased at wholesale level then they are tax-free. Instead the tax gets collected at retail level.
Tips for success in pearl jewelry business
- After setting up a wholesale account, determining your pearl jewelry collection line and planning a marketing strategy will be your next step.
- Recognize your target audience or have specific market segments. Remember teenage girls are different from millennial.
- Social media marketing is the most outstanding strategy to promote your collection. Content you post on social channel need to establish your brand. Ensure that you are consistent on social media posts and engage prospects with great product images. Even make sure to write helpful content, so as to introduce yourself as pearl expert.
Bring your jewelry design sketches to life buying pearls from wholesalers!
