Great discounts are available on bulk purchases of clothing, thus saving buyers a considerable amount of money over purchasing retail. You can buy lots of clothes from the wholesale outlets in your area. Outlets tend to be located far from retail shops, thus allowing retailers to mark up prices. Groupings or lots of clothing are also sold by wholesalers who advertise on auction websites on the Internet. The following is a step-by-step guide to purchasing clothing wholesale to resell in a boutique.
Make a plan. Decide which designs and brands you would like to buy. Fashion changes rapidly, so your boutique must be able to keep pace with the most modern styles, trends and brands.
Do your research. Find out the retail and wholesale prices for the items you plan to buy. Compute the difference to roughly estimate your profits in the future. Buy wholesale garments that give you ample profits on reselling. Focus on brands that are known for quality and that have been around for a long time.
Locate wholesale dealers. Try to find some nearby dealers so that the transportation cost is minimised. Buy direct from the company, if possible.
Check out the prices. You may need to buy a certain minimum number of items to partake in the seller's discount. Remember that most purchases are negotiable.
Purchase only good quality clothes; do not go for low quality clothes even if they cost less. Poor quality clothing will be very hard to sell. In addition, it will affect your reputation as a retail seller. Branded items reinforce the trust of buyers.
Request samples. You can ask the wholesale dealer to send a sample item before you place the order. This is an additional measure to help ensure quality.
Raise any concerns before paying. Ask the wholesalers about their shipping costs and the time they need to ship the items. Overseas shipping usually takes weeks, if not months. Determine their shipping capability. Ask the dealers how secure their packages are. Purchase insurance to protect your investment.
Start small. Set up a small boutique concentrating on a particular buyer to start. You can expand your focus and/or add more products and accessories as the business grows.
Try to be sure you can mark up 100 per cent from your wholesale purchases for resale in the boutique, so you can cover your overhead and make a good profit.
Study labels and quality so that you don't inadvertently purchase knock-offs.
Tips and warnings
- Try to be sure you can mark up 100 per cent from your wholesale purchases for resale in the boutique, so you can cover your overhead and make a good profit.
- Study labels and quality so that you don't inadvertently purchase knock-offs.