The Truth about Wholesale Supplies and Products

Most successful shopkeepers will tell you that finding good sources for products and supplies is no easy feat. When you do find one, it’s like finding buried treasure. Especially if you’ve been stumbling along in frustration.

I’ve made some purchasing mistakes along the way that I’d like to share with you.

Never buy product from a catalog unless you have an iron-clad return agreement

Early last year, I was looking for reproduction items to add to my vintage stuff in my space at the antique mall. I wanted reasonable quality, reasonable prices and clearly marked reproductions. I stumbled on to a wholesaler’s catalog, placed my first order — and received a bunch of garbage that I wouldn’t unload at a garage sale. Really, it was that bad. The worse part is that they wouldn’t allow me to return it. How companies like that stay in business I’ll never know!  See the product in person, if you can, before you buy.

Be Picky

As you scour for sources high and low, trust your own taste and instincts. After a couple of mis-steps, I have developed a steadfast rule that if I wouldn’t have an item in my home, it is not going in my shop or in my booth. If you hesitate on a buy, there is usually good reason behind that pause. Your gut is trying to tell you something. Listen to it.

Don’t Overstock

This is one I learned the hard way. I bought a lot of everything that caught my eye. I mean A LOT! My once empty garage was packed to the rafters and I parked outside for 3 months as I sold my way through the pile. The real kick in the pants is that I found a few of the same items for much LESS during those 3 months — but I had already spent my budget and couldn’t act on those great deals.

An item may not sell as well as anticipated, either. Quantity price breaks are wonderful to increase your profit margin — but items that sit for months and months cost money. Buy the minimum of an item and see how it goes first.

Don’t Be a Copycat

Don’t stock the same items as your neighbor. It’s very tempting when you see a competitor selling an item like crazy to track down that very same item and stock it yourself. DON’T DO IT!

First of all, it’s extremely unprofessional. You wouldn’t want her doing the same to you.

Secondly, remember your lessons on supply and demand from Econ 101. In the unique boutique business, too much of exactly the same thing will KILL the demand. Not only will you NOT profit from copycatting, you’ll most likely kill your neighbor’s business, too. Not good karma, that!

Don’t Ask Your Competitor to Reveal Her Source

It amazes me that people even do this. She may like you as a person, and she may even wish you success in business but do not expect another shopkeeper to tell you where she gets her items. Again, back to Econ 101 and the above copycat rule.

Be Honest

Clearly mark reproductions as being such. Chances are you’ll fool a few people, but most collectors can tell true antiques from reproductions. You’ll only cause distrust among your customers by trying to pass new off as old. They’ll avoid your boutique like the plague in the future and put you out of business very quickly.

Well done reproductions are in demand, too, simply because the truly old is getting harder and harder to find and when you DO find it, prices can be absolutely staggering. For those of us who like the look, but can’t afford to fill an entire home with antiques, reproductions are the next best thing. And, you don’t feel so bad when you break a goblet or bowl 

Searching out supplies and products can be a daunting task. You will make mistakes as a newbie — count on it, but don’t let that discourage you.  I hope my tips help you to make fewer mistakes than I did.