Some Great Tips on Starting a Successful Retail Store Through Wholesale Handbags and Purses

If you want to join the fashion industry, the best starting point is to open a retail store of your own. Now in this retail store you can both design and manufacture your own handbags and purses and display it in your store. But this method of selling is very complicated and requires a lot of man power and capital. You will need to hire designers for designing the bags if you yourself do not have the capability and art to do so. Then you will need to find a manufacturing company that will be able to give you proper manufacturing of the designs that you made. Therefore to avoid all this mess, the simplest way to open up your retail handbag store is to simply purchase wholesale handbags and purses from another manufacturer or supplier and sell those items further ahead to the customer base you are serving.

You will soon realize that doing business with handbags and purses is very rewarding and fulfilling business to start. Later on if you want you can even start your own designing and manufacturing once you become fully aware of the ins and outs of the handbags and purses business. Doing business requires a lot of skills apart from the manufacturing. Therefore in order to beat competitors it is best that you focus solely on the business part of your retail store and leave the designing to wholesale handbags and purses that you purchase from other brands and labels. The first thing you need to clarify, before you can begin your purchase of wholesale handbags and purses are the customer base you are serving.

Though it may seem that wholesale handbags and purses is a very limited area, the customer base still varies immensely. There are handbags and purses for kids, teens, young women, and elderly women. There are high end designer handbags and purses and there are cheaper and lower priced brands that you can carry. The category of handbags is extremely extensive and there are multiple directions in which you can move. However, in order to maximize sales, it is advised that you carry a little something for all types of customers in your retail store by purchasing a mix of handbags and purses styles for all age groups. However the income group that you are targeting cannot be mixed together in one retail store.

The repute of your retail store will largely depend on the income group you are targeting and by the quality of your wholesale handbags and purses stock. If you are targeting a high income group you will definitely want to carry designer wholesale handbags and purses and other expensive brand labels. If you are targeting the middle income group then you will still focus on the quality of wholesale handbags and purses while purchasing from slightly lower priced manufacturers so that you are still able to earn profits while giving your customers the wholesale handbags and purses at a price they can afford and enjoy.

Finally you can even target the low income class by carrying the cheapest wholesale handbags and purses that are mostly for those who cannot afford to buy pricey products but still wish to accessories themselves with handbags and purses. So the target market you cater to will define the repute of your retail store in the market. So carefully analyze all factors before you settle on a batch and type of wholesale handbags and purses to purchase. The first image of a retail store is often the ever lasting image and changing it is very difficult so always think carefully and wisely.

Find Wholesale Distributors through Retail Industry Associations

In today’s installment of “Proven Techniques that Top Retailers Use to Connect with REAL Wholesalers” we’re going to discuss possibly the most valuable resource for finding wholesale suppliers (as well as for receiving many other incidental benefits) – the Retail Industry Association. Now, I look for wholesalers in a lot of different places. Some require more work than others, and some will seem almost like common sense when you learn them. The point here is that finding real wholesale suppliers is not difficult, and anyone can do it themselves for free if they have patience, a little bit of industry knowledge, and their willing to search in many different locations.

Before you can locate the best wholesalers, you need knowledge of your industry, be it clothing, consumer electronics, auto parts, or any of a number of consumer goods categories. For this reason, I feel that the best place to get started in your supplier search is to join Retail Industry Associations – especially ones that deal with your specific niche. These groups will often give you access to directories of suppliers within the industry. If they don’t, it is easy to network with other members of the association to locate suppliers within the industry. And there are so many associations out there – from large general retail associations to smaller niche-specific ones.

Finding retail industry associations is very easy. Simply do a Google search for:

Retail Industry Associations
Retail Industry Organizations
Retail Industry Associations for Consumer Electronics, Jewelry, any specific niche
Retail Industry Organizations for Consumer Electronics, Jewelry, any specific niche

The reason that I recommend retail industry associations first is that they offer so much more to their members than just wholesale sources. The biggest advantage, even more so than connecting with wholesale distributors, is access to education. Retail industry associations often hold seminars and conventions, or they will keep you abreast of other organizations that are holding seminars and conventions. (By the way, conventions are another place where you can hook up with wholesalers.)

Retail industry associations will keep you on top of the latest news from within your industry. It is very important to keep up to date with what is going on in your industry, or else you may get left in the dust as your competitors pass you by. You will often receive valuable tips and tricks to improve your profits, and we could all use a little more profit, couldn’t we?

Finally, many of these organizations are great places to network with other business owners in your industry. It will give you a chance to meet new people with similar interests, but more imporant, there’s a great chance that you can get some support from business owners with more experience than you. Access to support is something that new business owners need more than anything, and this reason alone is enough reason to get involved with a retail industry association.