Wednesday, January 21, 2009

crafters, how to buy supplies for cheap using someone else's money



BLOG POST AND ETSY LINK http://www.etsy.com/forums_thread.php?thread_id=6008219

Here's an idea on how to raise money for supplies and also pass on a great deal to your customers. I've been doing this with veils and scarves for years.

I usually have to buy in large bulk to get any kind of decent price on supplies. We'll use silk as the example. Usually I have to order 100 minimum to get a price break on the large half circle veils, which are my best selling bellydance related item.

But sometimes it's tough to have that money up front especially if you carry a variety of other items that require min. orders.

So what you can do is run a pre-order special. Give your customers a special PRICE BREAK if they order from you now, and pay for the order now. Make sure you spell out your terms in your listings, for example your listing could say that you will have their order completed in 30 days or less. Like for my store, I commonly say I'll have 10 veils for you dyed and ready to ship in 2 weeks. It's a good idea to work with people who already know your reputation..you can keep them posted if there are any delays on orders arriving and they are usually very understanding.

Give the pre-order special a time limit and offer limited quantities, that way your buyers are encouraged to shop and place their orders quickly, pay for the order and then you use that money to buy your supplies.

(I almost never use all customer money to buy supplies but since I've been doing this for about 10 years I'll use a portion of it and supplement with my own).

When your shipment of supplies arrives, you are ready to go. You didn't have to pay interest to use a credit card or business loan money to get your supplies. Your customers get a better deal than everyone else. And you've already sold off part of your stock.

Think of ways you can do this in your business! Every little bit helps. This is how I built A'Kai Silks on ten bucks!

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