A Jewelry on Consignment Program is built for stores with little to no experience in fashion jewelry to "get their feet wet" through a no-hassle, low-commitment method of business. Consignment locations enjoy the luxury of having our quality products to resell at a zero-commitment of cash.
To understand the concept of Jewelry on Consignment, let's discuss the differences between consignment versus wholesale purchases:
1. Consignment: The wholesale distributor selects the goods for the store owner and determines the amount to be assigned to his/her store. Wholesale: The store owner selects the products they want and the amount they want to buy.
2. Consignment: Consignment price includes a profit share for risk of inventory and obsolescence.
Wholesale: The store owner pays the list wholesale price for the goods that they want to buy thus giving them more profit margin.
3. Consignment: All inventory are the property of the Jewelry Wholesaler and may be required to abide by its policies and procedures. Stores will be required to perform at a certain level. They usually reserve the right to remove their products from consignment locations without cause. Wholesale: Stores own the products free and clear, and are able to do whatever they please.
All jewelry wholesalers require that you submit an application and wait until the approval process is done. The application will ask basic information such as Company Name, Address, Phone/Fax numbers, email address, years in business, aprox. yearly sales, and a valid credit card. The business requirements are usually a minimum SQ FT of retail space and some years in business.
Once your account is approved, you will be required to sign a contract as well.
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