Maybe you have decided to start your own business. It is a great idea, especially in an economy that will not give you the security you are looking for. Owning your own business will give you the satisfaction of being your own boss and the freedom to operate the way you like. Jewelry is a great way to make a living, but before you will get started you will need to know a few things about buying wholesale jewelry.
Buying wholesale is the only way to go when starting your own business. It will allow you to buy the higher quantities you need, while ensuring that you get the lowest prices. Businesses that sell wholesale do so with the intention of selling to retail sellers, who will then mark up the price to make a profit for their own business.
Before you will be able to get true wholesale prices for you jewelry, you will need to take care of some legal issues. Most wholesale vendors will ask you for a tax identification number or a reseller license number. In most cases the reseller license number is required.
A tax identification number is required by all businesses. It is similar to a social security number, but for a business instead of an individual. It is very easy to get. You can get a tax identification number online in just a matter of minutes.
A reseller license is just as easy, but will require you to fill out some paperwork in most cases. This type of license is usually issued by your state. After you fill out the form, you will take it to the appropriate government office or mail it to them. Within a few weeks they will send you a certificate that will make you a legal reseller of goods.
OK, now you are ready to go out and buy some wholesale jewelry. Many companies claim to offer wholesale prices, but that is not the case much of the time. A true wholesaler will ask for the reseller license number you obtained. They sell in large quantities for you to mark up and sell in your store.
Almost every community has jewelry wholesalers, and you can also buy on the Internet. Getting information about a vendor beforehand is best for your business, and helps you avoid wasting your time or your money. You should know what a wholesale rate is before you go out to buy anything.
Many Internet vendors also say they are offering wholesale rates, but that is often false. It is possible the rates will be below retail rates, but most of the time wholesale rates are going to be lower. Quantities of items are a requirement with most wholesale businesses. But the good thing about buying this way is that you will be offered the lowest rate. If you are offered the same low rate for a small number of items, it is because the wholesaler wants your business to continue.
There are a lot of choices for you when it is time to buy wholesale jewelry. Take care of all of the legal requirements first. Do a little research before you get started, and your new business will be a great success.