Scaling a successful wholesale business with Sarah J Cross
EPISODE 77
Notes
On the podcast today, I’m joined by vibrant entrepreneur Sarah Cross, who from the age of 24 built a multimillion dollar gift hamper business from her kitchen table. Sarah is now the founder and CEO of Creative Product Institute, a well-known speaker and author of Fearless Fempreneur. In this episode, she shares her incredible insight on scaling a successful wholesale business.
This conversation is a must-listen for all product-based business owners wondering if they should embark on a wholesale business strategy or evolve their wholesale arm.
Sarah has a passion to challenge business owners to get out of their comfort zones and break free from limiting self beliefs, and shares with us her own rags-to-riches business story. She describes growing up in an entrepreneurial family, and how this influenced her own determination to start a business.
Knowing early on the kind of life she wanted to pursue, Sarah backed herself from day one and with her ‘say yes now and work it out later’ philosophy, built a multimillion dollar business that helped create the amazing life and career she has today.
Sarah believes that having a robust wholesale strategy is paramount to having a sustainable and profitable product business. She takes us through the key benefits of wholesaling such as:
Reducing costs
Securing recurring cash flow
Providing consistency and more certainty for forecasting and buying
When it comes to pricing, many business owners struggle to price their products correctly. We talk about the importance of getting this right in order to set yourself up for making a profit. Sarah shares her insight on conducting regular price reviews and how to calculate true unit prices while factoring in labour prices.
We then talk about the importance of diversifying revenue streams, and Sarah gives us her recommended split of revenue for a business’s wholesale and business-to-consumer arms. This approach not only hedges against risk but also provides a steady stream of income.
Our conversation is an incredibly helpful look into the wholesale strategy, and Sarah provides so much practical advice for entrepreneurs either starting out in business generally or those looking to expand. Tune in to hear more on Sarah’s call to be bold, take action and grow as you learn along the way.
LINKS:
Sarah’s book: Fearless Fempreneur
Where to find Sarah:
Website: https://sarahjcross.com/
Instagram: @sarahjcross_offical
Register your interest in the Bookkeeping it Real Mentoring Program here.
Check out my course Bookkeeping it Real here!
About the
Author
Bec is a chartered accountant who worked at Australia’s big firms and banks for 15-years. Faced at a crossroads in her career, she backed herself, left her corporate job and launched Straight Up Bookkeeping. 3 years and 5 staff later, Straight Up Bookkeeping is one of Australia’s leading virtual bookkeeping businesses for creatives, with a mission to free business owners from financial stress so they can grow their empires.
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