Many Lularoe consultants consider swapping or wholesaling to freshen up their inventory. There are some big pluses to both options, and a few things to consider before jumping in. Take a minute to breath and consider these tips for swapping and wholesaling so you can make the best decision for your business.
Swapping is when you and one or more other consultants get together and swap straight across styles and sizes. Usually it is done in person.
- You and your customers get to see new items.
- You have different prints and solids to make outfits, show live etc…
- You didn’t spend any money to get those new-to-you items.
Things to Consider:
- Swapping is time consuming, especially if you are the one packing up and hauling to a different location.
- Trust–there has to be an element of trust in swapping. Let’s face it, not all prints are created equally. You need to establish up front the expectation that neither one of you is going to stick the other with the bottom of the barrel, or hand-pick through the items that you are willing to swap.
- Swapping is not an income producing activity (IPA). It might give you some new inventory for creating outfits, going live, etc., but only if you are going to actually do those IPAs after you swap. It could be that it would be better to put your time into IPAs to begin with.
- While these will be items new-to-you, they are probably not the latest from the warehouse. Your customers who shop around in multi-consultant sales (MCs) and with a lot of other consultants are likely to have seen at least some of the prints before.
Wholesaling(WS) can be a great way to turn over inventory, reduce your inventory numbers or purchase new inventory.
- Unlike swapping, wholesaling puts money in your pocket that you can then use however you see fit, whether that is to purchase new inventory or put back into your family budget.
- You can reduce your inventory numbers if they are higher than fit into your current plan.
- If you are purchasing from another consultant WS you can hand pick items that fit your needs. Many consultants purchase WS with an eye to what will pair with items they already have, or items that they know a particular client will love.
- If you are GOOB or purchasing from a consultant GOOB you are helping the brand value over all.
Things to consider:
- Wholesaling is not an IPA, but it can feel like one. So be sure you are not fooling yourself into thinking that you are producing income.
- It is time consuming. You are still pulling, packing, shipping etc. without any income at the end of it. Oh, and see #4.
- When you put your inventory up for WS other consultants are going to hand pick what they consider to be the best items. This isn’t necessarily a bad thing. If you have been working your business and that item hasn’t sold, no matter how awesome it is let it go. Just be prepared mentally, because it can be a little painful.
- Consultants can sometimes be our worst customers. The majority of consultants are awesome, but there is the occasional one that claims a bunch of items then disappears. It’s unpleasant, so be prepared for that. And please don’t be that consultant yourself.
- If you are purchasing WS you are probably paying shipping. Free shipping is one of the perks of purchasing from the company.
The bottom line is if you have somehow gotten into a rut, you do not have to feel stuck with no where to go. Get some things turned over either with income producing activities (ideal) or swapping and wholesaling. If you have another Tip comment below. You may also contact me here.