If you are new to the retail business and are considering opening up your own retail shop, you will need to be able to work with wholesale clothes and wholesale fashion jewelry distributors. The first thing you need to know is that they will not deal with the general public. With that being said, you will need to pay for a Sales Tax ID number in order to purchase from any wholesaler. Do not be fooled by those who say they do not need such a thing, because this would be a lie. More than likely these distributors are working illegally and you do not want to find yourself caught in a web of illegal issues.
After you have gotten your Sales Tax ID you can open up shop anywhere you like, even from your own home, you are a legitimate retailer with your ID. The fun part begins now. You can start writing down what type of items you are going to want to have for sale in your shop. You can also go to other shops in your area and see what they are selling and list the items that appeal to you.
When you are examining other shops merchandise make sure to notate the style number you should be able to find on the clothing tags. If you have these numbers it might make it a little easier for you to get some of those same items from a wholesale distributor. Make sure that you also pay attention to how much these shops charge for the items you are interested in selling in your shop. This should make it easier for you to figure out how much you want to charge for the same thing.
If you are a small business you may wonder who you should be buying your items from. The best thing for a small business is to go online and look up wholesale distributors. Those who sell products online are use to dealing with smaller businesses and allow the buyer to purchase smaller quantities.
If you are a first time buyer with any of the wholesalers more than likely they are going to want you to pay up front for your orders. This is because they do not know you and they do not know your paying habits. Once you have become established they will probably then invoice you. It is very important to note: never pay any distributor in cash. Cash cannot be traced so using a credit card is your best bet.
It is important that you ask the distributor what their return policy is. You do not want to get stuck with merchandise that is damaged or not what you expected. So you really need to know if you can return things within a certain amount of time.
Always make sure that you know just how much merchandise you are required to purchase in order to receive the wholesale discount. You do not want to be forced to purchase more than you think you can sell. Remember when you are setting up a budget for purchases that you also include the charges for shipping.
It is very easy and convenient to work with distributors that are found online. But this does not mean that you have to stick strictly with online wholesalers. You can always keep an eye out for fashion and jewelry trade shows in your city if it is a big city. Or you can travel to the nearest large city. They are a little hard to get into so make sure that you have your personal ID, Sales Tax ID, business cards if you have them and maybe even a sample of what you sell. These are great places where you can get great prices on the latest fashions and jewelry. They are also a great place to gather contacts for your business.
Retail outlets like to label inventory “Wholesale Clothing” or “Wholesale Fashion Jewelry” when it simply indicates that the prices are like those of a wholesale outlet. Avid shoppers know that these prices can represent a real bargain.