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help with first wholesale account


Guest jurnalynn
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Guest jurnalynn

i've got my first wholesal account and i don't know where to start i can't take much more (price) off my products i have to create a pricelist only thing is i priced the cost of things before everything went up for example coconut oil went up over a dollar citric acid up 50 cents a lb ect. you all know how it is. any tips in how people handle a wholesale? do you charge a delivery charge? etc.

thank you for your time

Laura

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i've got my first wholesal account and i don't know where to start i can't take much more (price) off my products i have to create a pricelist only thing is i priced the cost of things before everything went up for example coconut oil went up over a dollar citric acid up 50 cents a lb ect. you all know how it is. any tips in how people handle a wholesale? do you charge a delivery charge? etc.

thank you for your time

Laura

I dont have a wholesale account but I believe the rule is for wholesale cost you do your cost times 2 and retail would be your cost time 3, or 4 depending on your market.

And by delivery charge do you mean shipping? If so I would make them pay it. And if you are talking about dropping it off maybe set a mile limit. Like say if they are 10 miles from you, you could drop it off for free and if over that charge them a fee for each mile.

HTH some

Antonia

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All of your costs must be figured BEFORE you take wholesale accounts. You price all your costs for wholesale exactly the same way you price your products for retail accounts.

Are you already selling retail? If so, you can more or less half your retail price to arrive at your wholesale price.

The bottom line is it's up to you. Charge whatever you want.

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Guest jurnalynn

yes i sell retail but when i figured my costs i took into consideration i would be selling it i never really figured out how to add the cost of utilities since i work out of my home so its hard to figure out since the rise in utilities could be because everything is going up and as far as "BEFORE YOU TAKE A WHOLESALE ACCOUNT" I didn't go looking for them they came to me and i have to get them pricing before they order and since she is on vacation i had 2 weeks to do so...i just wanted to make sure i wasn't short changing myself since i don't think immediately raising the prices because i made a mistake was a good thing i thought i would ask those of you that have priced their items for help....didn't expect to be scolded as i am an adult

Laura

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Hi Laura, if I am understanding this correctly, you have already given a list of prices to the account? I know it is hard to raise prices. You have to consider a couple of things, if you have given them a price list, if it were me, and this were my first wholesale account, I would sell at the already given prices, foot in the door for the initial order. When you deliver the order, and I do deliver for free as the milage is an expense of the business, let your account know that the prices will be going up because the costs are going up etc..... I am sure the account is already aware of that. This actually gives the account the option of pricing off the new price you will be offering. It is kind of a trial anyway to see how the product sells etc... Don't consider it a loss, consider it the cost of doing business. It will show up on your profit and loss statement at year end, so you really can't lose. The price of utilities is tough to figure, so what I do is always put a buffer, of .25 cents on each candle after figuring my cost per candle. This has worked well for me. If you have anymore concerns pm me. I'd be happy to help if I can.

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Guest jurnalynn

ty for replying i haven't given them a price list yet i sell at craft shows and to people straight out of my home so i wasn't sure how much i should lower my prices for wholesale since i consider them reasonable now and worried about not charging enough or too much if you know what i mean...

Laura

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You can tell the person that you don't do wholesale. Not everyone chooses or wants to do wholesale. There's no rule that says you have to. It doesn't sound like you are in a position to offer wholesale pricing based on what you said. If your retail prices are already low--if you're only doubling your costs currently, then don't go the wholesale route. There's no point in only getting cost for your candles.

If you can afford to, what I suggest is that you tell the person you can offer them a discount for a bulk purchase--say 25%-30%. If your candles truly are cheap at retail prices, then a re-seller could possibly buy them at your full price and double the price on them depending on their market. Don't hesitate to tell the person that.

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