As an entrepreneur and crafter of unique jewelry, you may want to expand and advance your business to a more mainstream market. You could continue selling your wares without a store or retail license, or you could apply for and get a retail license, which allows you to expand your business in many ways. Here are three ways your business can and probably will expand once you have a merchant's license.
Rhinestone and Bead Importers Supply You with Goods
There are many bead importers that will not sell their goods to anyone that does not have a merchant's license. Since these importers want and need a way to identify all of the companies and stores they sell to, a merchant's license identifies an individual company or business that beads and jewelry supplies were sold to. It also simplifies the reordering process when licensed merchants are listed as auto-ship customers and can be billed regularly for the beads and/or rhinestones shipped to them. If you get your merchant's license, you have access to more suppliers and distributors of the beads and stones you need to make your jewelry.
Store Fronts and Stand-Alone Stores Open up to You
With a merchant's license, you can buy or rent a store front or a stand-alone shop from which to sell your wares. It signals not only to supply distributors that you are serious about your business, but also that you are taking the next step to establish your company by opening a store in a very public and locally accessible way. Additionally, the license provides you with multiple financial avenues to pursue when you are seeking loans or business credit cards to secure your store location and supplies.
Franchise Options May Be in Your Future
Although it may be a long way off yet, having a merchant's license does even more than help you buy wholesale jewelry supplies from a bead importer or open up a single store; it opens up the possibility of a franchise. Of course, if you become a franchise, you will need to hire several talented jewelry makers to help you make enough unique pieces to sell in all of your stores and their locations. The merchant's license gives you legal license to conduct your business in any way that helps it grow (so long as those ways are not illegal themselves). It is something to consider as you begin buying supplies you could not access before without your merchant's license and move your business from basement or shed to store front.