Hey everyone!
The past 7 weeks have been an epic adventure for me. I got offered a consignment deal through a friend who manages a local bookstore. She saw my bookmarks that I sell and thought they, and a few other items from my shop, would be ideal for their location. I jumped at the chance to have my products offered in a real, brick-and-mortar store, rather than solely selling on Etsy.
Little did I know just how long and daunting this process can be! Here are some lessons that I learned along the way - hopefully some of this will be helpful to those of you looking to wholesale/consign in the future.
1. Think about your pricing. I MEAN, really, really get this part down. I was in the middle of making my 50th bookmark, my fingers were cramping, and I looked down at my "to do" list and quailed. You don't want to get halfway through (or completely done) with your order and realize you won't be making enough money to make it worth it.
Think about how much YOUR TIME is worth. This, to me, is one of the most easily overlooked aspects of Etsy. Not just pricing - but the value of the time you spend making something.
2. Signage. Many stores have very little budget for making signage. While selling on Etsy means you save a lot of money on things like displays, hangtags, signs, etc., You will still need these things to sell in a real store.
I attempted to contact signmakers here on Etsy and barter for 2 table signs for my store with FOUR different Etsians, including two people from my trade team. Every single deal fell through and I ended up making my table signs myself.
While this was fun for me, as I am artistically inclined, it can become an issue. Think about how you will sell your items and how they might be displayed in a store... Will every item need a price tag? How will you make or acquire these? Will you buy your own supplies and make your own? Or will you pay out of pocket to have something custom made?
3. Postage. How you will send your items to your consignment store / boutique can be between you and the retailer. However, I highly recommend keeping great records of EXACTLY what you've sent them, as well as insuring the package you send.
When I realized that I was going to be shipping $700+ worth of merchandise to this store, I ended up utilizing the Delivery Confirmation and Insurance from USPS. It cost me 10 times more as the packages I normally send out, for Etsy sales, but the peace of mind is crucial. You'll know exactly when your retailer receives your goods.
To other consigners out there: What are some of your "Lessons learned"?
