It's no secret that most retailers are looking for home decor wholesale vendors to help fill their shelves with merchandise that will sell quickly. But how do you find the best vendors?
And how do you know if they are qualified to work with your business? We'll discuss these questions and more in this blog post, so read on!
What is Wholesale Home Decor?
"Wholesale home decor" is any home decor that is sold to retailers in bulk. This includes furniture, lighting, bedding, and decorations for the different rooms in a house.
A wholesale supplier's catalog prices should allow the retailer to double the markup or more and still be able to sell to the consumer. This is called a "keystone".
We will go into more detail on the types of wholesale companies later in the post. But first...
How do I find wholesale companies?
There are 4 main methods for finding a wholesale company.
- Google Search
- Online Marketplaces
- Social Media Searches
Some wholesale home decor companies are online-based and can be found on the internet.
For general Google searches:
Check Google search engine results for "wholesale home decor". Include your location in the search if you want décor companies around your area only.
Run a non-location based search using similar words such as wholesale home decor vendor, wholesale home decor supplier.
Search based upon categories specific to what you are looking for; for example, "wholesale farmhouse decor" or "wholesale coastal decor". Also, try reversing the words, ("farmhouse decor wholesale" for example) as you will get different results.
There are online marketplaces that list multiple home decor suppliers. Make sure that you know the order minimum, payment terms, shipping, and return policies before purchasing from these marketplaces as they differ greatly between vendors.
Tip: have your EIN or a Tax ID scanned copy ready as many of these marketplaces or vendors will require proof you are a company because they want to hide wholesale pricing from non-retaiilers.
Meet Many Suppliers Quickly at a Tradeshow
Tradeshows are a great way to meet wholesale home decor suppliers. You can find a trade show near you using a Google search "wholesale home decor tradeshow". Add "near me" to the end of the search to find smaller regional shows as well.
Some tradeshows like the AmericasMart in Atlanta, Dallas Total Home and Gift Show, and the Las Vegas Market have permanent showrooms and temporary booths at their shows, and the dates and open times between the two can vary. So be sure to check their websites to plan your trip. These large shows often occur multiple times a year.
You can find many new vendors in one location at tradeshows. The different shows will have different vendors. Consider going to several to fully understand the market.
If you a have regional show nearby take the time to visit. You may find unique products from a smaller company that does not go to the larger shows.
How Do I Find Home Decor on Social Media?
You can also find wholesale decor using different social media channels. On Facebook, for example, you can search "home decor wholesale" and see what pops up. On Pinterest, there are different pins that have products from home decor wholesalers.
You may also want to consider searching Etsy. People sell their own product lines - this is a great way to find new suppliers with original designs.
How Do I Qualify Wholesale Home Decor Suppliers?
First, determine what type of home decor supplier you are looking for; not all are the same.
- Are you a single-store or multi-store chain?
- Just getting started and have a smaller budget, or highly funded?
- Brick and mortar, online-only or a combination of the two?
Each of these business types will have different needs in terms of inventory planning and quantities. They all may use the following types of wholesale services.
What are the different types of Home Decor Wholesale Suppliers?
What is a Cash and Carry Wholesale Business?
With cash and carry business you purchase home decor from the wholesaler and then resell it in your store. The benefit of these suppliers is that you can buy very small quantities of the product you are interested in. They may sell online and ship to you, or more commonly you will go to their location to shop.
Cash and carry wholesalers often buy from the importer or designer wholesalers. Their warehouse is like a giant store selling a variety of items and you will normally shop them like a grocery store.
What is a Drop-Ship Wholesaler Business?
A drop-ship wholesaler business is one that buys home goods wholesale from an outside source but doesn't stock inventory or sell anything on their own site. The product will be shipped by the wholesale company on behalf of the e-commerce retail store. The benefit is that you can markup the price of the goods and do not have to physically take the inventory.
You will need to monitor the wholesale company carefully to ensure on-time shipping since you are responsible for any quality or delayed shipping issues with your end customer.
What is an Open Market Wholesale Home Decor Vendor?
These vendors buy open market goods, goods from other countries that are available to any parties that find the overseas supplier. These wholesale companies will tend to use sites like Alibaba.com to import large quantities of items, mark up the price and then sell to retailers, cash and carry wholesalers or do a wholesale/retail sale hybrid for themselves.
You will be able to identify these suppliers because other wholesalers online or in the market will carry the same designs.
Please note that while the images may be the same, the quality of the product, minimum order quantity, and packaging may vary between wholesalers. Do your research or place small test buys to determine which company provides you with the best overall service.
What is a Design House Wholesale Supplier?
A design house wholesale supplier is a company that creates its own unique products that are made domestically or imported. Most larger design house wholesalers import products. These businesses either pre-sell product lines and order just enough to fill orders or order for stock and look to sell it during the year.
Before placing an order be sure to know which type of business they are as it will need to consider this in your order quantity for an item. If it sells quickly, you may not be able to buy more until the following year.
How Do You Determine if a Wholesale Supplier is Right for Your Shop?
When qualifying a wholesale home decor supplier there are 8 key factors to consider.
- Do you like their line?
- How does their pricing structure work?
- What quantity do you have to buy?
- Are there any charges outside of regular wholesale prices, such as shipping and handling fees?
- What is their lead time on orders?
- Do they offer payment terms?
- Are there any digital assets they can provide customers free of charge?
- Do salespeople seem knowledgeable about the line and industry trends?
Do you like their line?
First and most importantly, does the wholesale home decor supplier have a product line that you like? If yes, then it is time to dig deeper.
If they are not in your niche, the supplier may still be worth considering if their line is complementary to something you carry.
If their products do not at all a match what you sell, then this is probably not the right wholesaler for you.
How does their pricing structure work?
Do they have a simple pricing structure or a multitiered complex system that seems to punish smaller retailers with markups 40% or higher between the first and second tier? Look for products from vendors with whom you can grow and with whom you will turn a profit starting out, and then bigger profits as your purchasing volume increases.
What quantity do you have to buy?
How many pieces do you need to buy to start out and how many per reorder? The vendor may require large quantities for you to be able to order by the case.
Be careful not to overbuy on a single item that has a huge minimum just to get a lower price. The savings will not be worth it if you have to discount the item to clear it out.
Are there any charges outside of regular wholesale prices, such as shipping and handling fees?
Ask your vendor what their shipping policy is and how it is billed.
Smaller orders may ship via UPS or Fed Ex.
Larger orders will often ship freight, which lowers the per unit costs. If you have never shipped freight before ask the wholesale company if they can walk you through the process or arrange freight for you.
What is their lead time on orders?
Are the items available now or is there a lead time? Consider these factors when determining if you want to purchase items now or wait for a better time.
If the product is not in stock, ask your vendor how long it will take before they can deliver it.
Do they offer payment terms?
Payments are usually a credit card or Net terms. If you are looking to have net terms from a company you will need to provide a credit reference sheet. If you are buying for immediate shipment many companies will require the first order to be shipped credit card while they process your credit application.
Are there any digital assets they can provide customers free of charge?
Some companies will offer a photo service; they provide access to high-resolution photos you can use for your website or marketing materials. This will save you the time of having to take photos or the cost of having someone else take the photos.
Do salespeople seem knowledgeable about the line and industry trends?
If you are working with a salesperson, do they seem knowledgeable about the line and show a personal interest in your business's success. Tell them about your business and ask for suggestions on top-selling products. What products do they think will work best or compliment lines you already carry?
Ready to Get Started Buying Wholesale?
Just like the many choices you have for your own home decor, there are a variety of wholesale vendors out there that can provide high-quality products at competitive prices. Finding and qualifying these suppliers is an important step in developing a retail business plan. It is worth investing the time to find the right vendor to partner with.
If you are looking for wholesale home decor that will meet your needs with unique designs and no minimum, consider ELC Designs Group as your wholesale partner.
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