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More Cost Control Resources

Cost Control for Crafters

Read Part One, Minimize Your Costs.

Some Wholesale Resources for Crafters to Consider

For more information about wholesalers as well as a list of potential sites you can visit, read the following articles:

• Top 10 Free Online Wholesale Resources
• More Ways to Minimize Your Costs
• Looking for Wholesale Craft Resources
• Wholesale Resources for Crafters

They all discuss some additional ways a small retailer can try to save money.

A source to consider is "light" bulk vendors. These are wholesalers who will sell in smaller quantities. Visit World Wide Brands which offers a light bulk shippers directory. However, you might not find any sellers of raw materials there.

Keep in mind most of these wholesalers are selling finished goods, rather than raw materials. Also their inventory might be quite flexible, changing with the seasons.

It is not easy for a small business person to locate the right wholesale or bulk suppliers and your best bet might be checking the yellow pages of the nearest large city. Also look for your craft supplies in non-craft venues. You might find the ingredients for what you need at much lower prices.

Finally don't forget to check eBay . There are hundreds of vendors selling craft supplies on that site at any given time.

If you can find one carrying the product you need, your cost savings could be considerable.

Buying Co-ops

Co-op groups can help. Individuals and small businesses get together to amass their orders so that they can meet ordering minimums that would ordinarily be out of reach.

A Google search will turn up some of these groups. The better choice might be to check the Yellow Pages to see if there is a local group you can join.

Make sure you get reference before you join.

Bulk Buying

CreateForLess sells in bulk. I?m sure you can find other stores that will do the same.

Unfortunately, this does not necessarily mean a per unit price reduction. So while this will likely be more costly than true wholesale, it might be the best you can do. Also be sure to ask if there is a discount for cash. Every little bit counts, right?

Be Creative

Please keep in mind that you don?t necessarily need to approach companies that specifically make materials for the craft market. There are many products made for other markets that can be used in craft making. For example, I use inexpensive file folders for many of my printing projects, rather than buy pre-scored paper made especially for computer crafts. My customers love it. Use a little imagination.

Don?t Forget the Details

Remember you?ve researched your market and know you have a product that will meet with high demand. If you?re really lucky, you already have a large order in hand and have even gotten a deposit with which to purchase all your raw materials.

When you set out to minimize your raw materials expenses, be sure you don?t forget any. Things as small as hangtags with your logo or the strings or ribbons to attach them have a price. And these costs add up, especially when you are filling a large order or anticipating high demand. That?s pretty obvious, right?

Don't Discount Your Time

Most work at home crafters figure out the raw materials sourcing and equipment depreciation issues pretty quickly. What many don?t figure out is the one cost element that is almost impossible to pin down: the cost of YOU.

Your time is valuable. Home crafters often forget that. They reason, ?I do this in my spare time. I can?t charge anyone for that!? Hopefully, the value of your time will become very clear when you have so many orders that you can?t accept them all.

Not only your time is valuable, you ought to be paid for that special something you bring to your products. You?re selling things that, by definition, are unique and artistically done. They have a finite supply. No matter how much the market wants them, you can only produce so many.

Recommended Reading

If you?re still not sure you know how to quantify costs, here are two books specifically for crafters containing detailed sections on determining all-in cost:

The Basic Guide to Pricing Your Craftwork

and

Pricing Guidelines for Arts & Crafts: Successful, Professional Crafters Share Their Pricing Strategies to Help You Set Profitable Prices for Your Arts & Crafts.

Both contain a wealth of material on how to take your costs into account when setting your price.

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