A great man once said, “Party on, Garth.” Keep the party alive by learning how to sell party supplies online. Getting started with your own online store is easier (and less expensive) than ever before. So break out the streamers and balloons and host your very own web party when you open the doors to your new online business.
Ecommerce is a booming field, and party supplies represent the perfect niche to break into the business. It could be a great compliment to a party planning company, or you could just start your own standalone retail business. Whatever you choose, you’ll need to take a look at some tips to learn how to sell party supplies online.
1. Decide exactly what you want to sell.
'Party supplies' is a broad topic. How can you narrow the focus? Perhaps you just want to specialize in balloons and streamers. Or, maybe you want to target customers decorating for wedding parties. Whatever area you choose, it can be helpful in differentiating your store from the competition and really making a name for yourself in the retail business.
Once you’ve decided what to sell, it’s important to choose a name that represents your business accurately and descriptively. When you have a name, you’ll be one step closer to learning how to sell party supplies online.
2. Partner with the best distributors.
To make a profit, you’ll want to work with a wholesaler. Wholesalers sell party supplies in bulk for lower prices. For party supplies, plenty of distributors can break you into the scene. Some examples include Party Celebration, Dealer Party Supply and Rebecca’s.
Establishing a relationship with a partner should be as easy as reaching out directly. Wholesalers need buyers like you and vice versa, so it should be easy to get their attention. Once you’ve accomplished this, you’ll have two steps down on your quest to learn how to sell party supplies online.
3. Calculate your margins.
When you buy through a wholesaler, you’ll need to figure out how the bulk prices compare to current market pricing for direct-to-consumer sales. The remainder is your profit, as well as your buffer zone. For instance, if you want to run a promotion, you can lower prices to somewhere within that profit zone to increase sales and make sure you still make a profit.
4. Choose a strong software provider.
Finally, it’s absolutely essential to employ a strong ecommerce software suite in your business. You’ll want someone who gives you the ability to easily designate bulk orders for customers that want to buy closer to wholesale prices. As you learn how to sell party supplies online, you’ll probably come to understand that email marketing is a huge part of how you gain more business. Strong, built-in marketing features can help you get started spreading the word and gaining new customers.