I have a question for those of you that do this as a business. With all the different vendors and suppliers out there, how do you track your wholesale costs and suppliers? I have a couple that have the same items and I can’t come up with a way to give me item and the various costs.
Any thoughts or insights?
There’s “old school” method of a notebook, which I use the most. Though I have created spread sheets for myself to track this as well as my inventory and usage in designs, and there are databases and programs available for this purpose, too. For example, craftybase, and I think Quickbooks has this feature, too.
And for wholesale, be sure you include if the source requires a MOQ (minimum order quantity)–so buying a 1000 can make the price per part cheap, but if you only need 10 or space to store that many, sometimes buying retail is easier, and understand any tax implications (for my state we can deduct any sales tax we pay when we file our federal tax returns).
Spreadsheet…
Spreadsheets.
And for something like Uline that has various quantity breaks, I will set up a spreadsheet to analyze those different breaks, since shipping also changes. Often, you’ll find a sweet spot where after considering shipping, you’ll have a lower per unit price than the next price break up.
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