Perfume is a popular item for gift giving and personal use. Everyone has it, or wants it, or needs it to give to someone, so deciding to start perfume wholesaling gives you a good chance of earning some profit. You should probably start by taking some business management courses; this will give you vital information that you’ll need to run your company.
Follow these steps to learn how to start your own perfume wholesaling business.
Research the market. In order to start perfume wholesaling, you should have a good understanding of the state of the market. That is, is there a demand for perfume right now? Do you stand a good chance of making a profit? And if so, what are the best products that you should considering offering? Look at your competitors’ sites, stores, booths and magazines to get an idea of what they are selling and at what price. Talk to your competitors (if they’re willing) about their business lately, and determine whether or not it’s a good time to start perfume wholesaling.
Decide what types of perfumes you will sell. Before you can start perfume wholesaling, you need to determine where your stock will come from. Do you plan on making your own perfume (inexpensive but unpopular), or will you sell popular name brands? Look into purchasing perfume in bulk. The best place to start is on the internet. You can usually find local and international sellers who are willing to act as your supplier. Keep in mind that international shipping and customs charges might raise prices well beyond what your local supplier is offering. And it takes much longer to ship from overseas as well. All of these things need to be considered when setting up your initial perfume product offerings.
Price your products. How you plan to sell your perfume will determine your pricing strategy. If you have overhead costs from a place of business that you have rented for this business, then you’ll likely need to have higher prices to account for these expenses. On the other hand, if you are initially going to start perfume wholesaling from your garage or basement, then you can take advantage of the low start-up costs and pass these savings on to your customers. Create a pamphlet or magazine for your clients to look through. And since you are going to be selling perfume wholesale (not at a retail outlet), then you’ll want to offer discounts for larger orders. Give your clients incentives to purchase bulk perfume from you.
Decide how you will market your services. Now that you’ve decided what perfumes you are going to offer from your perfume wholesaling business, it’s time to get your business name out there. If you are operating out of your home, take out an ad in the local paper. Word of mouth is also a good start, although few of your family and friends likely need to purchase wholesale perfumes. Your best chance at succeeding with your perfume wholesaling business is to take your business online. This opens you up to the world-wide network of perfume sellers. Invest in a great website that has shopping cart capabilities. Make it user friendly and make sure you offer a mailing list so you can update clients about new perfumes you are offering. As well, you’ll want to register your site and business on wholesale perfume sites (such as wholesalecentral.com), where buyers will go to compare you with your competitors. The more you put your name out there with a link to your site, the more success you will have with perfume wholesaling.
Set up a great accounting system. Of course, you will need to make sure that your client’s purchases run smoothly. Invest in some great accounting software, or hire an administrative assistant to ensure that all bills are paid. A smooth first transaction will keep your buyers happy and coming back for more.
Register your business. You need to let the government know that you’ve started a perfume wholesale business too, for tax purposes. Make sure you register your business with them and fill out all necessary paperwork to make your perfume wholesale company completely legal.
And that’s all there is to it! Don’t forget that keeping up with current trends is vital – you can learn how to do this through online business classes. In any case, once you’ve got your products and a great website, you’ll be well on your way to running your very own perfume wholesale business. Ah, the sweet smell of success!