How To Find Your Best Wholesale Approach
This may be one of those things that is 80% liberating to hear and 20% annoying. But: there is no one right way to do wholesale.
When folks are just starting out with wholesale, they often feel like everyone else knows the right way to do things and that they can’t really start until they find out what those right ways are. How do I do wholesale pricing? Is my line big enough? What should my wholesale minimum be? How should I do packaging or store displays for stores?
Then as folks get bigger in wholesale, they feel it again: the sensation that there is a sequence of steps to grow, that they’re not privy to. Should I pursue reps or nationwide retailers or licensing or raise prices or lower them?
Now, it’s true that there are absolutely principles, methods, and a small group of “do this not that” rules that will help you succeed with wholesale. (Obviously, that’s what we teach in the Wholesale In a Box course.)
But the biggest determinant in wholesale success – both in the early days and as you get more established – is having a great product… and finding unique, personal ways of connecting with store owners about that product. And both elements of that – product and connection – require creativity and your best approach will not look the same as someone else’s best approach.
So how do you find the right way to grow wholesale for you?
You don’t just have to cross your fingers and hope for the best. I’ve actually found in working closely with our clients that there is a WAY to find the best path to grow wholesale, even if the path itself looks different for everyone.
Here is what I recommend:
Experiment until you find what works for you.
Once you find something that works, stop doing the things that don’t work.
This process of trying things out and then pruning is one that happens at every stage and in every part of a business.
What this can look like:
In designing new products, you need to try several new designs. And then once you see which work and which don’t, it’s usually best to cut the nonperformers.
In connecting with new stores, it’s best to try several approaches (active outreach, marketplaces, sending samples, in-person options). But then you’ll find 1-2 work best for you – cut the rest.
If you’re working with reps, you’ll probably have to find a bunch and then cut the 80% that aren’t worth the effort.
So if you’re wanting to see better results in any area of your business, think about how to apply these two steps. And if you need a hand thinking it through, let us know.
How We Can Help You Grow Wholesale:
Wholesale In a Box
Our beloved comprehensive course and coaching is your all-in-one way to grow wholesale fast, steady, and long-term. Learn more here.
Getting Started With Wholesale
A free 4-part email course covering the basics of how wholesale works, keys for success, whether it’s right for you, and how to get started. Sign up here.
The Wholesale Reset
Our free email course for more advanced brands — we’ll help you reset your approach to wholesale and take concrete steps forward to change your results. Sign up here.
Line sheet in an afternoon
Our minicourse that gives you a 39-page comprehensive line sheet template to mix, match, and modify — along with the guidance, motivation, and help you need to make a great line sheet fast. Sign up here.