The paper craft wholesale business is one of the least expensive wholesale businesses to start. The essential startup tools and supplies are cheaper and easier to find. That is why many wholesalers are turning their heads towards this industry. If you are also thinking about starting a wholesale business for paper crafts, then you are in the right place. Here, we will discuss how you can create your wholesale business along with the tips to grow your business but first let’s see the scope of this industry.
Paper Craft Industry in US
Over the years, the paper crafts industry has progressed at a rapid pace. The total market value for paper crafts was recorded at $43.9 billion last year. This number is expected to increase two folds in the next five years. These statistics are enough to show the profitability of paper craft wholesale business.
Understand the Paper Craft Business
Before moving to steps, let’s understand what is included in a paper craft business. Anything made of paper or paper-like material such as waste fabric rags and cardboards can be manufactured in a paper craft business.
This field is more wide-ranging than you might expect it to be. You can make holiday decorations, wedding invitations, coloring books, handmade gifts, toys, handbags, clothes, jewelry and much more. A wholesale paper crafts business is undoubtedly a profitable and promising business to consider.
Steps to Start a Wholesale Paper Craft Business
Let’s see how you can start your wholesale paper crafts business below:
1.Do Your Research
Your first step in starting a wholesale paper crafts business involves market research. You need to make sure that there is a demand for your paper crafts. Remember, the deeper your market research is, the better chances you will have to make your business successful.
To learn about the market demand for your products, you can gift your crafts to people and vendors. This will give you an idea which products are liked by people and which products do not have the potential to make a good sale.
2.Choose Your Niche
Paper craft business is all about creativity and uniqueness. Before entering the market, you need to make sure that you have unique and useful products. Paper crafts business may include hundreds of products of different kinds and materials. You will also need to narrow down your crafts niche to start your wholesale business.
3.Develop a Business Plan
Your business plan will determine the sustainability of your wholesale paper crafts business. A good business plan should include all the necessary details, including the name of your company, your budget and your market research findings. It should clearly state all the steps that you will be taking in placing a strong base for your wholesale business.
4.Set Your Inventory
The sustainability and smooth running of your business depends on your inventory. In a wholesale paper crafts business, you deal with numerous items. Keeping track of all the items can be frustrating. It also exposes your business to the risk of errors. To deal with this problem, you should use an inventory management system.
We suggest that you choose an active and reliable inventory management system like SeeBiz Inventory. This business tool is designed to increase the efficiency of your business by automating your inventory-related tasks. It can:
•track your products from order confirmation to packaging, shipment and delivery.
•notify you whenever a product needs to be restocked.
• assign unique identification codes to each of your products. By setting the location, you will instantly know where your products are located.
•provide all the features for free until the end of three months’ trial period.
5.Choose Selling Channels
Once you have set up your inventory, you will need to choose selling channels for your products. You need to make sure that you select the selling channels with a vast audience. You should choose multiple selling channels to increase your customers and sales.
Making your business digital is the need of today’s business market. So, make sure that you display your products at different online stores. It will not only increase your sales but will also grow your brand visibility.
6.Promote Your Business
The last step is the promotion and marketing of your crafts and business. You can use traditional marketing approaches for this purpose such as brochures, print media and advertisement. But we suggest that you focus on the digital marketing of your paper crafts. You can use social media platforms to introduce your crafts to the audience. With the help of social media platforms, you can achieve the following;
Know how well are your products received
Connect with your customers
Use your customer’s suggestions to improve your crafts
Know about unique ideas for your crafts
Provide customized paper crafts to your customers
Starting a wholesale paper crafts business is more comfortable as compared to other wholesale companies. All you need is to choose the right crafts for the right audience and market. We hope that the guidelines mentioned above will help you in starting your wholesale paper crafts business. Do let us know how helpful the tips mentioned above can be in your viewpoint.
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