Buying wholesale clothes in a smart way should be a top priority for you. Read below for more…
Buying wholesale clothes to sell in your boutique is a must. It’s how you can get quality, trendy products at a low cost to mark them up for a great profit. It’s a win for the wholesale supplier, a win for you, and a win for the customer who gets to look and feel great wearing the items they purchase.
Buying wholesale clothes is not as simple as logging in to their website, clicking on your faves, and checking out. There are insider tips and secrets to learn before making your first purchase. Keep reading to learn retail secrets that can help you avoid wholesale mistakes.
Secret: Know the Type of Wholesale Company
There are multiple types of wholesale suppliers. The manufacturer is considered a wholesaler, especially those that sell to retailers and wholesalers. Another type is the merchant wholesaler that sells to retailers and directly to customers. The retail wholesale supplier buys directly from the manufacturer at a discounted price. They then mark up the price while keeping it affordable and selling it to retailers.
Wholesale suppliers understand boutique owners need to make a profit, so they set prices at a level that will help both of you succeed.
Secret: Discover How Much the Wholesaler Knows
A great wholesale supplier will be able to provide education on the clothes they sell. They should know the designer, materials, quality, and country where they were made and distributed. They should be able to give you tips on upcoming trends and how to market to your customers. If you contact a wholesaler and they cannot provide a lot of information on the clothing, keep searching.
Secret: Learn Their Ordering Process Long Before You Order
You may find the hottest dresses on the market, but your love for the dresses won’t last long if the wholesaler’s ordering process is a nightmare. Can you make a quick order online, input your credit card information, and checkout? Or do they require you to use a special payment process that involves connecting their software to your bank account, require payments by check or electronic transfer, or do they bill you at the end of the month?
You can get to know their ordering process by placing a small batch order. Doing so gives you great insight into customer service, orders, lead times, payments, shipping, and possibly returns.
Secret: Know Where the Wholesaler is Located
The address on their website may say one area on the globe while the actual business is located in another area. Some companies may have a branch in America, but all their clothing items are shipped from overseas, which means higher shipping fees, possible delays, and more wear and tear. Do the research to learn where every department responsible for the clothing you want is located.
Secret: Don’t Forget Your Wholesale Buyer’s License
If you buy clothing from a wholesaler that you plan to personally wear or give away, you do not need a buyer’s license. If you intend to resell the items for a profit, you must get a wholesale buyer’s license. Requirements vary by state, but most require obtaining a reseller’s permit. Accessing your state government’s website will provide you with the exact steps. Also, complete a sales tax permit to help you avoid taxes on the products you buy.
Secret: Find a Wholesale Supplier with a Variety of Items
The fewer places you must shop and buy clothing and accessories to sell in your boutique, the better. If you can find a one-stop wholesale supplier, you will save time and effort. You will not likely find just one wholesale supplier, although it is not impossible. The goal is to keep the supplier number low.
Having too many wholesale suppliers puts you at risk for errors that you do not have time to fix.
Secret: Treat Your Wholesale Suppliers Like Partners
While you aren’t sharing revenue, you want to be successful. Wholesale companies need you to be successful to remain a customer of their company. In a sense, you are partners working toward the same goal. You want customers to love the products enough to make a purchase. This leads to repeat customers for you and the wholesaler.
Don’t be afraid to ask the wholesale supplier for tips on product styling, displays, and photographs to post on social media. You may be surprised to learn the wholesale company may be able to share their photos for marketing. This will save you so much time, the time you can spend on the many other tasks necessary to run a successful boutique.
Secret: Review the Contract Before Signing It
Some wholesale suppliers require you to sign a contract. Whether the contract is five pages or fifty, read every word of it. If there are parts you do not understand, seek clarification before you sign. You may want to consult with an attorney who can explain the fine details. Think of the attorney consultation as insurance protection. Don’t feel obligated to sign. You have the right to turn it down if you do not feel comfortable.
The right wholesale supplier will work hard to make you feel comfortable with the contract and may be willing to negotiate. So, don’t be afraid to try negotiating.
Secret: Know the Rest
There are far too many secrets to help you buy wholesale clothes to discuss in detail here. However, the remaining tips of most significance include the following:
- Know your budget
- Don’t go over your budget
- Know what you are looking for ahead of time
- Know the fabrics
- Ask for samples
- Know how you will store the items you buy
- Create a marketing plan first
- Check references and get feedback from other retailers
- Choose a niche
- Understand and compare clothing sizes
- Ask about their return policies
Wrapping Up Wholesale Clothes Secrets
These retail secrets should give you a great start on purchasing wholesale clothing. Now, it’s up to you to implement them. One final tip: Have fun and enjoy the process!