234 | Scaling Wholesale with Beth Roszkowski & Tiffany Grimes
As a product creator, it’s common to feel that success means building your own storefront and selling retail to earn the most profit for your business. While that’s a great goal to strive for it doesn’t mean you should let other selling options, like wholesale, fall off your radar.
In today’s episode, Beth Roszkowski and Tiffany Grimes join us to share how wholesale has allowed them to scale their businesses. I’m excited to highlight the conversations to show how two different brands with different stories still find value, profit, and expansion in their businesses through wholesale.
Ways to Sell Your Products
Oftentimes, when we create physical products, we have our eyes set on selling retail. We dream of what our storefront (either physical or online) will look like, how it will sell, and the customer base we’ll reach. Retail isn’t the only option for selling your products though.
You can create a profitable business in retail while also dipping your toe in wholesale or even licensing. There is a mindset shift that many creators have to move beyond that tells them that wholesale means less profits. That’s why I thought it was important to share this conversation with two shop owners who have found success in wholesale while still creating a profitable retail brand.
Why to Consider Selling Wholesale
Now, your biggest concern is likely about the profit margins or maybe finding a retailer to buy from you—both great concerns. Getting into wholesale does take time, work, and patience. The relationships you build with retailers or sales reps can lead to long-term, fruitful partnerships that will pay off.
Tiffany and Beth both have had a successful experience in wholesaling, which wasn’t always what they expected. They both had to experience the mindset shift and understand that even though they were selling wholesale products at a lower profit, the payoff of the higher purchase and the associated work made it worth it.
To put it into perspective, when we look at a retail order versus a wholesale order, the retail order is typically small while the wholesale order is big. When a retail order for a $5 card comes in, you’re taking the time to review the order, package the order, and send off the order. Repeating this over and over for a small order is time consuming because you’re having to stop and restart the process over and over. When you’re packaging up a $1,000 order, the process is simpler and streamlined, because it’s all going to the same place.
This simple mindset shift can allow you so much more growth and reach in your business through wholesaling.
Exhibiting Provides Opportunities
As mentioned before, getting into wholesale takes time and effort. One way you can open the doors for your products to get into retailers is through exhibiting. While this isn’t for everyone, it does allow you to meet new retailers and sales reps!
Beth found success in exhibiting when she got her first Paper Source order and her first sales rep at her very first show. These two accomplishments paid off for her time and time again, all from investing in that one exhibit. Additionally, she won the Best New Product Award at her second show, which does place more eyes on her products and business from those who may not have noticed before.
It’s important to weigh the benefits of what exhibiting can do for your business, but then also if your business is prepared to handle the orders that may come from it.
Working with Retailers
Once you jump into the wholesale world, you’ll begin working with retailers and sales reps, where you may find yourself in different store types. Based on the store types, it’ll also impact the orders you receive, the way you handle packaging, and so much more.
For example, different store types could include the big box stores like the TJX brand, where they’re ordering for stores across the states. Another store type could be an independent retail shop that doesn’t order as much, but you’re able to build relationships with them.
Working with Big Box Stores
If you’re able to connect with and sell to big box stores, the payouts will be wonderful for your business and brand. While you may think that the big box stores are the only way to go when it comes to selling wholesale, they come with their own set of challenges you’ll have to overcome.
For Beth, she has orders of 1-2k cards that she handles herself, but when it came to order from TJX of 12-14k cards, she had to outsource it. The volume was too much for her to handle alone so she did have to logistically figure out what would work for her. Additionally, each big box store comes with it’s own workflow, whether that means you’re packaging and ticketing yourself or you’re sending it off as you normally sell it retail, it can differ per store.
Working with Smaller Independent Shops
When it comes to smaller independent shops, we like to look at those as the bread and butter that keep our industry running. Tiffany shares that one of the best parts of working with smaller shops is building relationships with them or their sales reps, getting feedback on how the customers react when they see the new products, and you know what impact that you’re making in their store.
Defining Success
As you’re considering if wholesale is the right path for you to take in your business, I want to encourage you to look at what you’re defining success as and how this decision impacts your goals. Success could mean not working on your business at night, having total flexibility in your job, not relying on outside validation, being able to create products you love, or more importantly, not letting the business run you.
Wherever you are in your journey, know that your idea of success can change, your goals can change, and your path can also change.
It’s important that you find a community to help support you, ask the questions you’re struggling with, and don’t try to be all things to all people. We’d love to invite you into our community at Paper Camp, where we share everything you need to know about selling wholesale and exhibiting at trade shows.
Today’s episode is brought to you by Paper Camp, where we’ll help you launch or refine your wholesale line so that you’re selling your products to retail stores big & small.
If you enjoyed today’s episode and are ready to add trade shows to your business plans this year, make sure you’re on the waitlist to join us at Paper Camp!
Important Sections in Today’s Episode:
Get to Know Beth (3:30)
Get to Know Tiffany (3:39)
Volume in Wholesale (8:00)
Why Wholesale Provides Success in Business (9:27)
What Exhibiting Brings Outside of Sales (12:20)
Licensing Opportunity with Black Joy Paper (15:15)
Working with Big Box Stores (17:15)
Working with Smaller Independent Shop Owners (19:20)
Defining Success (21:10)
Advice (25:17)
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CONNECT WITH BETH
Website: tinyhooray.com | Facebook: @tinyhooray | Instagram: @tinyhooray
CONNECT WITH TIFFANY
Website:posteritypaper.com| Facebook:@posteritypaper | Instagram:@posteritypaper
Connect with Katie Hunt
Katie Hunt is a business strategist, podcaster, mentor and mama to four. She helps product based businesses build profitable, sustainable companies through her conferences, courses and coaching programs.
Website: prooftoproduct.com | Instagram: @prooftoproduct
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