How to Buy Wholesale Jewelry Supplies
If you like making jewelry is a hobby, buying supplies at retail shops is probably the best avenue. If you decide to pursue jewelry-making as a business, it is much more efficient to buy wholesale supplies. Most wholesale suppliers require larger upfront purchases, but the cost savings can be tremendous.
- Get a resale license. The requirements for these vary by state, but in order to qualify for wholesale pricing and tax exempt, you need to have a resale license or business license.
- Set up a business checking account or credit card. If you are buying online, which is the most common way to buy wholesale jewelry supplies, you need a method of payment. A business checking account with an attached debit card is a great start.
- Research wholesale suppliers online. There are many companies providing jewelry supplies at wholesale prices on the Internet. Top companies include Rings N Things, Fire Mountain Gems, and Jewelry Supply.
- Research the buying terms of each company. Once you have narrowed down your choices, look at the buying requirements for your prospective suppliers. Some have minimum amounts you must spend to place an order, while some have graduating discount levels depending on how much you spend.
- Use a shopping list and stick to it. It is so easy to overspend with all that is available. Try to stick to your list and allot a maximum dollar amount to impulse buys. It is important to allow some wriggle room to buy inspiring components that help you make more jewelry, but overspending can cause budget trouble.