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One of our wonderful community members, Ann, wrote to us the other day with a question that may sound basic to some. But it’s a question that so many folks struggle with… and feel like they’re missing something. So today, I'm answering a tough question that almost everyone using wholesale marketplaces struggles with at one point or another!
The coaching I do isn’t generally about telling the person WHAT to decide or what to do. Rather, I support business owners in getting clear on HOW to decide. Of course, there are a lot of approaches to “how to decide” depending on the specifics of the situation. But there is one useful tool that I find myself returning to over and over again. And it can be seen in the form of a formula:
Numbers + Intuition = Good Decisions.
The more Faire becomes a market leader, it’s easy to feel like Faire is the “only” wholesale platform that brands need to know about. But there are some great platforms that serve a more specific niche. And that focus can be an incredible opportunity. Sometimes these platforms have better terms and buyers who are a better fit — so are worth considering as a part of your overall wholesale strategy.
Recently, we were lucky enough to sit down with the folks from Powered By People and got to dig into all the specifics of how PBP works, how they find the balance between profit, people, and planet — and how to think about whether PBP is right for you.
A wholesale line sheet can be the most powerful document to have on hand if you’re growing wholesale. Many makers spend a lot of time developing a wholesale line sheet to win the hearts and minds of buyers – but lose the sale because of simple mistakes that they could have avoided. So in this article, we’re putting a big old “WATCH OUT!” sign in front of all the pitfalls before you get to them.
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.