Wendy McManus - Metal Clay Magic

Wendy McManus
  What’s my story?
  What is wholesaling?
  Why wholesale? Why not?
  Developing a line
  Production
  One of a kind work
  Wholesale and retail pricing
  Finding customers
  Policies
  Marketing Tools
  Other resources
  Your questions
  Discovered polymer clay in
2006 and started working in
metal clay in 2009
  Knew early on that wholesale
would be the right fit
  Moved from full time to a part
time gig with the National Mango
Board in Jan 2012
  ACRE Orlando show in Jan 2012
  BMAC in Philadelphia in Feb 2013 and Jan 2014
  Studio McManus jewelry is in 17 galleries
  The artist sells the work to a retailer (gallery, store
or catalog) at a wholesale price
  The retailer marks up the work to a retail price and
sells it to their customers
  The retailer owns the
work – they set the price
and any markdowns,
they control the display
  Not the same as
consignment
  Exposure to a wider
audience
  Make on demand and
keep limited inventory
  Get paid up front
  Limit your risk
  Improve cash flow
  More efficient
transactions
  Complement your retail show and online sales
  Deal with professionals instead of consumers
  Design it once, shoot it once, sell it many, many
times
  You LOVE doing retail shows
  Your ETSY store provides a non-stop stream of
profitable sales
  You are selling more than enough at your retail
price, so why sell at wholesale?
  You don’t want to work in multiples
  Why did you
choose this
session?
  Think in terms of
cohesive collections
  Choose a popular
piece or element and
develop variations
  Develop color options
– patina, beads,
stones, cords, etc
(think seasonally)
  Make pieces available
in different metals
Images courtesy of
Vickie Hallmark
  Stretch your pricing
range
  Cover many price
points along your
spectrum
  Entry-point and
aspirational pieces
  Know your most
popular items and
colors – retailers will
ask
Images courtesy of
Megan Auman
  Consider casting
  Get some help
  Design in
components
  Take notes for production
reference
  Number or name cutters,
templates, forms, textures
  Develop production aids
  Stay organized
  Work in multiples and
batches
  Some galleries will want
OOAK, possibly on
consignment
  Sell by photo, trade show
or pick box
  Use for “hero” marketing
and jury shots
  OOAK pieces should fit with
your production line
  Use them as the
centerpiece for a production collection
Image courtesy of
Bev Gallerani
  Materials + Labor + Overhead + Profit = Wholesale
Price
  Wholesale Price x Retail Markup = Retail Price
  Retail Markup = AT LEAST 2x
  Example: My retail markup is 2.2, so a piece that
wholesales for $50, I will sell at retail for $110
  The retailer controls their markup – it may be more
or less than your retail markup
  Once you make that commitment to a retail markup,
you must stick with it or risk losing trust with your
retailers
  If I cut my retail price in half, I won’t be profitable!
  If I mark up my calculated wholesale price 2x or
more, I will price myself out of the market!
  The cost of those retail shows, including display,
tent, travel costs, etc.
  Your time spent at the shows, plus preparation,
travel, and recovery time
  You time spent listing each item and managing each
online transaction
  The spread between the wholesale and retail price
pays for marketing to the consumer, carrying the
inventory and keeping the lights on every day
  When you sell at wholesale, you are outsourcing
those responsibilities to
the retailer
  They’re not ripping you
off, they are your
business partner
  Price for wholesale right from
the start
  Find the right retailers, and
the retail price issue begins
to dissolve
  Beef up your marketing efforts and brand identity
  Find ways to add value to the work
  Find ways to reduce your input costs (materials,
casting, outsourcing, efficiencies)
  Use carefully executed promotions to reward your
retail customers
  Wholesale trade
shows
  Retail shows
(they find you)
  Gallery visits
  Digital submissions
  Postcards/Catalog
mailings to your
target list
  Include on your order form, line sheet and catalog
  Minimum opening order, minimum for re-orders
(dollar amount or number of pieces)
  Payment terms for opening order and re-orders and
late payments
  Shipping
  Returns and exchanges
  Your retail markup and right to hold promotions
  Lead time for shipping
  Order form
  Line sheet, with or
without photos
  Catalog/line sheet
hybrid format
  Website
  Bio/care card
  Postcards
  See my catalog/line sheet at
www.StudioMcManus.com/catalog
  There are loads of books, websites, magazine
articles and mentors available
  Megan Auman (wholesaling e-book and Wholesale
Academy course)
  Holly Gage
  Tonya Davidson
  Marlene Richey
  Carolyn Edlund/Arts Business Institute
  Bruce Baker
  Ask questions of anyone who will talk to you
Thanks for coming!
Wendy McManus
[email protected]
321-695-3706