Sunday, February 7, 2010

Consignment Could Be Good! And Bad!

Be careful when you put your jewelry on consignment.  Some stores may not display your merchandise the way you will like them too.

Keep track of your merchandise, make sure you take an invoice book with your designs, price, color and description listed for each one.  You should keep a photo of each design.

When you take your product to the store, you should pay attention to the way they display other Designers merchandise.

If you notice the display is well done with the price tag and Designer names listed on the price tag.  You may want to consign with them.

Make sure you get paid on time when they sell your merchandise.  Some stores will tell you exactly when you could check with them and when they will pay you.  This is very important!

You do not want to consign your designs with a store who tells you they sell your designs and take months before they could pay you.   (This is a big NO! NO!)

Some stores are very professional, and they will pay you with a check and a payment invoice copy.  Some may pay you cash.  Make sure you keep track of everything!

Consignment could be very profitable, if you find the right store.  Some stores may ask for 40% - 50%.  Don’t get discouraged if you think they are asking for too much.  Try other stores or just  tell them exactly how much you want for your product.  If they are still interested with your product they will take it and mark it up to sell.  If they tell you the product is too expensive and they’re  not sure if they will be able to sell when mark up.  Ask them to try a few pieces to see how it will sell.  If they sell your designs, they will keep consigning with you.

My opinion, is I'll prefer to sell my jewelry designs to the store.  Just offer them a reasonable price, make sure you do not under price your design.  Be reasonable, but be good to yourself.

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