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Start Selling Consignment in 6 Easy Steps1. Research your options. Will you sell through local vendors or out-of-town retailers? There are many choices these days for consignment selling, but not all of them are worthwhile. Worse yet, some entities have been known to not only have few sales for crafters, but also have reputations for not returning inventory! All locations should be scrutinized before sending products or signing a contract. The best way to find out if a location is right for you is to ask other crafters about their experience with selling in this location. Never go on the salespersons word alone! You must know if a location is trustworthy before you go through the trouble and expense of delivering products. 2. Gather information on each location. Contact the consignment store where you are considering selling to find out the details. Ask to see a copy of the contract you will be signing and read the fine print! Of course you should first find out what the commission will be ahead of time when selling crafts through consignment. But there are other things you need to know: How often and in what format will the consignment store report sales? How often do you get paid for items sold? What is the policy for customer returns? If you are selling out-of-town, how often can you restock? Quality consigners will furnish this information inside the contract. If it is not there ask your contact person about these questions and ask that the answers be put in writing. 3. Decide what items you will display. Many locations do not allow unlimited items to be placed for sale. You will likely have limited space in which to display your products. Make sure you use this "real estate" wisely! Of course popular items you have should be included. But also be sure to think about seasonal items and regional products that may be more suitable in one location than another. Ask the contact person how often you can change your stock so you are not displaying 100 snowmen ornaments in the middle of July. 4. Create an inventory and price your products according to the vendor's instructions. You should always keep a close watch of anything you give to others to display for you. Create an initial count of all the items you will be displaying and remove items from the list as they sold. Over time, you may want to retrieve products that have been sitting for a long time to replace with different items. If you decide to pull your crafts from a location you can check the items returned with your inventory to be assured that everything was returned to you. 5. Deliver your products to the location. If this will be locally, it won't be a problem. Just contact the store to find out an appropriate time for delivery. If it is an out-of-town establishment you can plan on a trip to deliver the items or if you must, you can ship your items.
Hand Delivery:
Shipping:
6. Keep track of sales. Although this is not so much a step as an ongoing responsibility, I'm including it because it is very important to monitor each location's progress. Quality establishments will furnish you with monthly or quarterly reports on sales. If you find that some locations are not performing, you may need to regroup and move the inventory to more productive shops. Since empty spaces do not sell crafts, you should use your inventory to keep track of items sold so you will know how often to restock. |
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