- Business and Employment»
- Small Businesses & Entrepreneurs
How To Break Into The Wholesale Wedding Favor Business
Where To Find Wedding Favors Wholesale
Statistically speaking, half of all marriages end in divorce. Couples that are in matrimonial bliss for the first time approach their "perfect union" with the mindset that divorce will never be a factor in their relationship. However, most will not stand the test of time, and "till divorce do us part" is the most likely outcome.
In addition, about a third of those who take their nuptials have been married at least once before. For those who are tying the knot for the second, or maybe even for the third time, the statistics for a long lasting joint venture is even higher. The failure rate for those who have been previously married is in the sixty percent range.
Despite such statistical setbacks, the "urge to merge" is not slowing down anytime soon. According to the Wedding Report (TheWeddingReport.com) by the year 2010, there will be close to three million weddings performed in the United States. The average cost of a wedding is around 20,000 dollars. By the year 2010, that cost is estimated to rise to 31,400 dollars.
Specializing in products that cater to the institution of marriage can be a profitable enterprise. The variety of products and services that cater to just about every stage of a wedding plan is staggering. From wedding invitations, to wedding favors, wedding dresses, wholesale discount bridal supplies, flowers, champagne flutes, and everything in between.
With so many options available in the wholesale wedding supply business, where do you start. There are many questions and approaches to consider. Do you want to be a business to business wholesale wedding supplier, with an emphasis on selling retail wedding stores and outlets?
Or, do you want to sell wholesale wedding supplies directly to your customer? Do you want to specialize in one particular group of products, or do you want to carry a variety of wholesale wedding supplies? Not knowing how well you are funded, or what your marketing aspirations are, we cannot possibly address every contingency.
For the purposes of this article we will only deal with one sector of the wedding products market, the wholesale wedding favor business. If you are not familiar with the line of products that make up the wholesale wedding favor business, then visit MyWeddingFavors.com for an interesting perspective on the vast assortment
of products this website contains.
Everything from scented sachets, crystal engagement ring keychains, manicure sets, place holders, spoons, monogram chocolates, champagne flutes, and much more. Why wedding favors? Low cost, high profit, and a variety of products to choose from are the reason why there are dedicated websites and offline marketing efforts built around this one sector of the wedding market.
There are a number of companies in the United States that supply wholesale wedding favors. The list of companies presented in this article will help you pick your own product niche, and illustrate the vast amount of products that are being offered to those who are planning their big day.
Wedding Supplies Direct, (Weddingsuppliesdirect.net) carries a complete line of unique wholesale wedding supplies. Some of their products include wedding day cameras placed on each reception table. They can also personalize water bottles, playing cards, as well as personalized bubble blowing solution.
PartyPop.com, (Partypop.com), is a search engine that is dedicated to finding wedding favors suppliers from around the United States. You can use this site as a tool to perform market research to help you find a product niche in the wholesale wedding favor business.
Galow Metals, (Galowmetal.com) manufactures a brand of candle related products called Metal Glow®. The line includes candleholders, snuffers, floral, wedding, and decorative accessories. Their products are available in silver, brass, white and antique finishes.
Beverly Clark, (Beverlyclark.com) provides a complete line of wedding favors and accessories. Products include wedding shower gifts, engraving, apparel, candles, guest books, pens, wedding books and music.
Silver Lake Workshops, (ldacreate.com) located in the Virginia’s Shenandoah Valley, is a concave of porcelain artisans. They create custom, and in stock ceramic and porcelain tea cups, plates, boxes, and more. They also make glass cups, mugs, and ornaments. Staff artists can prepare artwork from your photos, postcards, brochures, logos, sketches, that can be applied to any ceramic, glass, or porcelain item you want to order.
Sensational Sweets, (Sensationalsweets.com) creates special order gift baskets, and provides a full line of chocolate covered pretzel rods, drizzled dark milk chocolate popcorn, fudge bits, popcorn lace, fudge bites, and fruit clusters.
Sun Creek Soaps, (Suncreeksoap.com) hand manufactures luxury soaps, and toiletries. Their ingredients include vegetable source oils, pure essential oils, organic herbs and botanical’s, that contains no chemicals or petroleum based products. They do not perform, or contract out any animal testing. The company offers gift baskets and gifts for corporate events, weddings birthday parties, and just about any occasion.
House Of Candles, (Houseofcandles.com) supplies a large selection of hand made super scented jar candles, votive candles, pillar candles, as well as hand carved candles, including wedding candles, and birthday candles.
North West Glass, (Northwestglass.com) sells imported handblown glass candles that can be used over and over again. They use smokeless and odorless lamp oil, without the use of wax. A woven fiberglass wick and funnel is included with every lamp.
Inspiration Stones, (Inspirationstones.com) sells a product called Pocket Stones™ . They are semi-precious stones engraved with inspirational, and motivational words of wisdom. Can be used as wedding favors.
Time Less Tradition Gifts, (Timelesstraditionsgifts.com) Timeless Tradition sells customized teardrop bottles. They are a wholesale supplier of historically-inspired tear bottles. A unique and personal gift choice for weddings and occasions.
Custom Chocolate, (Custom-chocolate.com) produce, and sell custom molded chocolates, for personalized wedding favors, corporate logos, chocolate business cards, chocolate coins, custom gift baskets, chocolate gift boxes, 300 chocolate themes, and chocolate fountain rentals.
Clip Devine, (ClipDevine.com) is a unique wedding favor product. If you are one of those wedding guests that wants to keep hold their drink and a dinner or appetizer plate at the same time, then this is the product for you. Clip Devine fits conventionally on the end of your plate, and acts as a cup holder for your beer bottle or glass of wine. They can be engraved to your specifications.
Wedding Star, (Weddingstar.com) Wedding Star is a leader in the Wedding industry and a global wedding supplier for 24 years. They sell wholesale wedding favors, wholesale bridal, and just about every product related to the wedding industry.
North West Glass, (Northwestglass.com) Northwest Glass Designs of Oregon, sells imported, handblown glass candles that burns smokeless and odorless lamp oil. Included are a fiberglass wick and funnel are included with every lamp. They make the great wedding gifts.
Accessory Wholesale Incorporated, (Awnol.com) Accessory Wholesale has been a wholesaler to the fashion, bridal, and tourist Industry since 1985. They are an important supplier of fashion jewelry, tiaras, rhinestone, and bridal jewelry.
If you don't want to be limited by domestic supply sources, and searching foroverseas manufacturers of wedding favors might also be a viable sourcing option. Low cost of certain products that are manufactured for the wedding industry makes importing from countries like China, can make for a profitable enterprise.
With that being said, the below mentioned resources will help you researchand understand the risks and rewards that importing can provide. Some words of warning. Do not pay any foreign business concern by telegraphic transfer (commonly referred to as a T/T, or wire transfer) by most Chinese manufacturers, to any foreign business concern, especially if you are not intimately familiar with their operation, or have no experience with importing.
Most reliable Chinese and overseas manufacturers will let you employ a letter of credit, or escrow protection. With that warning out of the way, please see the website below to help you find Asian sources of supply. Remember that research is the operative word here, and I emplore you not to take the plunge into any foreign buying venture without performing your due diligence.
B2B Manufactures.com (Manufacturers.com.tw), is a comprehensive manufacturers directory from Taiwan and China to locate global a variety of manufacturers and suppliers. When you get to the website, just type in "wedding favors" to find suppliers in that category.
AmeriChinaB2B, (Americhinab2b.com) AmeriChinaB2B is headquartered in Silicon Valley, California. They provide online and offline services for businesses who are searching for global connections. You can find potential buyers, suppliers, wholesalersand distributors in foreign countries. Some of our offline services are: marketing research, credential investigation of potential buyers and suppliers, translation services.
Global Sources, (Globalsources.com), is one of the few online venues that lets you order small product lots from overseas manufacturers. They also have magazines and trade shows that they sponsor. One of the better overseas sites to source product, but you still need to be careful when dealing with any company that is not stateside.
Buy USA, (Buyusa.gov) is a division of the US Commercial service. The website can assist foreign exporters find United States buyers, as well as helping US importers find overseas suppliers. Even though this is a Government website, and the suppliers are supposed to be pre-approved, you need to careful just the same.
Stat-USA, (Stat-usa.gov) a service of the U.S. Department of Commerce, is a single point access to authoritative business, trade, and economic information. Obtain current and historical trade-related releases, international market research, trade opportunities, country analysis, in their trade library.
Lehman & Lee (Lehmanlaw.com), a corporate commercial law office with seven offices China-wide and two branch offices in Hong Kong, Macau, and one liaison office in Chicago with more than 250 lawyers, patent and trademark attorneys and legal assistants providing a full range of legal services. Before getting involved in any overseas business transaction, consultation with a law firm like Lehman & Lee is a much-needed first step if you are new to importing.
Once you have performed your due diligence, and carefully researched the company that you want to import from, what method of payment should you use? The most common form of payment favored by some overseas manufacturers is the wire transfer. This involves transferring a cash payment from your bank account to the suppliers account.
This is a practice that you should never engage in especially if you are new to the importing. Wiring money to a business concern that you have not done business with before, opens yourself up to fraud. Once the money is transferred to the suppliers account, it is gone forever. The only way to get the money back is to have the money transferred back into your account.
You need to employ a method of protection that safeguards your investment, while at the same time, assures you foreign supplier that the money will be available to him once the product is delivered. The method of choice for most would be importers is the letter of credit. I won't get into all of the details about such a payment structure but if you want more information about what a Letter of Credit is, then go to Wikipedia.org, and search for "Letter Of Credit" for a more thorough explanation.
Before you solicit any bank official about forming a letter of credit, I would consult with a competent attorney to discuss the type of letter of credit that will serve your importing purposes. Online services like SecureLC.com (Securelc.com) provides an escrow account on behalf of the buyer and issues the seller with a Secure LC, which is paid once the goods have been shipped.
This could be an alternative to the lengthy and some what costly process of drafting a letter of credit, but I would not use such a service without strong legal advice, and a general background check on the service itself.
You might also consider getting your product inspected prior to leaving the manufacturers facility by hiring an auditing and inspection company. KRT Inspection, (Krtinspect.com) conducts factory audit and pre-shipment services, and provides outbound pre-shipment inspection services from China.
You will also need a customs broker to deal with all the paperwork that comes with importing as well. One company that can help you with a smooth shipping experience is the International Federation Of Customs Brokers.(Ifcba.org). The last thing that you want to have happen is for your shipment to get caught up in a foreign port, or get stuck in a United States customs yard because you did not have your paperwork in order.
Whether you buy wholesale wedding favors stateside, or want to import from a wholesale supplier or manufacturer that you have found in the Pacific Rim, the information provided to you in this article should help you get a head start on a profitable wholesale wedding favor enterprise.