Unlocking the Benefits of Faire Wholesale
Table of Contents:
- Introduction
- What is Fair?
- Applying to Fair
- Loading Products on Fair
- Expectations for Sales
- Commission Structure
- Setting Case Packs
- Zip Code Protection
- Communicating with Buyers
- Fair Direct and Zero Percent Commission
- Net 30 Terms
Introduction
Welcome back to another video! Today, we're going to dive into a topic that I've been asked about a lot: Fair, the wholesale platform. As a small business owner myself, I've had personal experience with Fair and I'm excited to share my journey with you. Whether you're in the soap and cosmetics industry like me or in a different industry altogether, I hope that you find this information helpful. So, let's get started.
What is Fair?
Fair is a wholesale platform that connects retailers such as boutiques, salons, spas, and gift box companies with handmade product vendors. It's like an Etsy specifically for wholesale. It's a convenient way for retailers to discover and purchase unique handmade products without physically attending trade shows. While Fair primarily focuses on smaller retailers, they also have vendors that operate on a larger scale.
Applying to Fair
Getting accepted on Fair can be a bit of a process. It took me around six to eight months and multiple applications to finally be approved. If you've already applied and haven't heard back, don't lose hope. Keep reapplying as they are constantly looking for new vendors. Additionally, if you already have wholesale accounts with brick-and-mortar or online stores, ask them to submit your brand through the Fair portal as a referral. This can increase your chances of getting accepted.
Loading Products on Fair
Once you're accepted on Fair, the next step is to load your products onto the platform. You don't have to upload your entire line; you can choose which products to include. Fair provides support teams that can help you load your products from your website or other platforms like Shopify. The process is typically seamless and not too difficult.
Expectations for Sales
It's hard to predict exactly how much sales you can expect on Fair, as it varies for every vendor. Factors like timing, upcoming holidays, and the demand for specific products play a role in sales. However, I noticed that there was more activity and sales in the first four weeks after joining Fair. This is because Fair sends out a weekly email to retailers featuring new vendors, giving them more visibility. It's important to remember that individual experiences may differ, so be prepared for both bursts of sales and slower periods.
Commission Structure
Fair operates on a commission structure, where they take a percentage of your sales. The commission for the first order is 25%, which can initially seem overwhelming, especially for small businesses. However, it's important to note that this percentage only applies to the first order. For subsequent orders from the same buyer, the commission reduces to 15%. This can make a significant difference in the long run, especially if you have customers who make repeat orders.
Setting Case Packs
Case packs refer to the unit of purchase for retailers. You can set case packs for your products, which determines the volume that retailers need to purchase. Setting case packs ensures that your products are well-merchandised and displayed properly in stores. For example, you can set a case pack of three for certain products and six for others. This allows you to control how your products are sold and presented to customers.
Zip Code Protection
Zip code protection is an important feature on Fair that allows vendors to protect specific areas where they already have established wholesale accounts. It prevents buyers within those zip codes from placing orders on Fair, ensuring that you don't oversaturate a particular market. However, it's crucial to double-check and verify the effectiveness of zip code protection to avoid any potential conflicts or competition.
Communicating with Buyers
Fair provides a messaging feature that enables vendors to communicate with buyers, even if they haven't placed an order. This can be useful for discussing specific details, addressing concerns, or canceling orders if necessary. Remember to be courteous, professional, and transparent when messaging buyers. It's an opportunity to build relationships and provide exceptional customer service.
Fair Direct and Zero Percent Commission
Fair Direct is a feature that allows you to bring existing contacts or buyers onto the Fair platform. By registering them as direct contacts, you'll pay a zero percent commission on their orders. This is a great way to continue collaborating with your established wholesale accounts while benefiting from the convenience and exposure offered by Fair.
Net 30 Terms
Fair operates on net 30 terms, which means that you'll receive payment 30 days after the order has been shipped. While it may initially feel like a delay in receiving payment, it becomes a rolling number once you have a steady stream of orders. It's essential to be aware of and plan for this payment cycle to ensure the financial stability of your business.
Highlights:
- Fair is a wholesale platform connecting retailers with handmade product vendors
- Getting accepted on Fair may take time, but persistence pays off
- Loading products onto Fair is a seamless process with support teams available
- Sales expectations vary, but the first four weeks tend to be more active
- Fair operates on a commission structure, starting at 25% for the first order and reducing to 15% for subsequent orders
- Setting case packs helps merchandise your products effectively
- Zip code protection safeguards established wholesale accounts
- Communication with buyers is facilitated through Fair's messaging feature
- Fair Direct allows you to bring existing contacts onto the platform with zero percent commission
- Net 30 terms ensure timely payment for your orders
FAQ:
Q: How long does it take to get accepted on Fair?
A: The acceptance process can take several months, so it requires patience. However, don't hesitate to reapply or ask your existing wholesale accounts to refer you.
Q: Can I choose which products to include on Fair?
A: Yes, Fair allows you to select which products to upload onto the platform. You can showcase your best-selling items or those that align with current market trends.
Q: Are there any restrictions on pricing for Fair?
A: Yes, Fair requires vendors to commit to offering the same wholesale prices on their platform as they do outside of Fair. This ensures consistency for buyers.
Q: Can I communicate with buyers on Fair?
A: Absolutely! Fair provides a messaging feature that allows you to communicate with buyers, even those who haven't placed an order yet. It's a great way to address any questions or concerns they may have.
Q: How long does it take to receive payment on Fair?
A: Fair operates on net 30 terms, meaning payment is received 30 days after the order has been shipped. It's important to plan and manage your cash flow accordingly.
Q: Can I bring my existing wholesale contacts onto Fair?
A: Yes, Fair Direct allows you to invite your existing contacts onto the platform. By registering them as direct contacts, you can maintain your relationship with zero percent commission.
Q: Is it possible to cancel orders on Fair?
A: Yes, you have the ability to cancel orders on Fair if necessary. However, it's important to communicate with the buyer and explain the reason for the cancellation professionally and politely.
