I started to sell crystals as a way to earn extra cash, but it turned into so much more. Not only do customers love their crystals, but they also use them to heal. Connecting people with these beautiful natural stones will give you deep satisfaction.
You can make a nice profit selling crystals, but you do have to invest in your business. You’ll have many expenses, especially when you start buying crystals for your inventory. (Check out how much I spent to open my crystal shop.)
As a frugal person at heart, I wanted to share these little-known secrets for saving money while you sell crystals. Some of them are most relevant to sellers in the United States, but I’m sure everyone can take away some useful info here.
Table of Contents
- 1. Buy crystals and supplies in bulk
- 2. Apply for a tax exemption in your state
- 3. Reuse packaging
- 4. Open a rewards credit card
- 5. Use Pirate Ship for mailing labels
- 6. Track your spending in QuickBooks
- Save money while you sell crystals
1. Buy crystals and supplies in bulk
It almost goes without saying, you should buy crystals wholesale for your crystal shop. Paying retail prices for inventory is the worst thing you could do for your business! Check out my blog about wholesale crystal suppliers if you’re not sure where to start.
Similarly, you’ll pay much less for crystal store supplies like mailing boxes, gift bags, and business cards if you buy in bulk. You’ll pay less per piece when you buy more items at once.
2. Apply for a tax exemption in your state
This is directed to sellers in the United States. Not to be clickbait-y, but it’s ridiculous how much I’ve saved with this one action.
Most states charge a sales tax on purchases. Where I live, I pay an extra 9% every time I go shopping. But…
You don’t have to pay sales tax on items for resale!
That means you can apply for a resale certificate in your state. Then, you’re exempt from sales tax on crystals, boxes, packaging, and basically anything that you send to your customers.
You can use your resale certificate in person at local stores, and on websites like Amazon. Get this set up right away!
3. Reuse packaging
The first rule of owning a crystal shop is, never buy bubble wrap. All the bubble wrap you’ll ever need is included in your wholesale orders.
You also can save boxes from online purchases and reuse them for shipping your orders. Way to be eco-friendly!
Just be sure to let your buyers know in advance that you use recycled packaging. Then, they won’t be surprised when their crystals show up in an Amazon box.
4. Open a rewards credit card
This is a top way that I save money every day on my business, Interstellar Crystals. I opened a business credit card that offers cash back on all of my purchases. (A personal credit card works fine too.)
I get 2% off everything I buy in the form of cashback rewards! That 2% really adds up.
If you have the travel bug, you might pick a card that earns you miles instead of cash back. Then, you can take a nice vacation after a year of business spending. Business class, anyone?
Keep a close eye on your budget and pay your bill in full each month. You want to get awesome rewards, not accumulate interest and debt.
5. Use Pirate Ship for mailing labels
When you sell crystals, buy your postage online. It’s less expensive than paying at the post office.
You can buy discounted postage through Etsy, Shopify, PayPal, and other online vendors. I use Pirate Ship and recommend them because:
- Pirate Ship lets you choose between USPS and UPS, so you can compare prices and pick the best option.
- They have some of the best rates for international shipping.
- You can use your rewards credit card on Pirate Ship, and rack up those points and miles!
6. Track your spending in QuickBooks
Ok, this is the topic nobody wants to hear about. There’s literally nothing more boring than accounting.
But, do you know what’s even worse? Spending hours entering transactions in a spreadsheet, and then not knowing what the hell to do when tax time comes around. Sadly, I learned this the hard way.
Skip this waking nightmare by subscribing to QuickBooks. The QuickBooks Self-Employed package works for my needs.
How does paying for QuickBooks save you money?
- QuickBooks gives you a clear picture of your finances. You might think your store is doing great, but is it really? The ability to accurately track your income and expenses is critical to succeeding in business.
- QuickBooks tracks your business deductions. For example, when you drive to the post office, that mileage might be deductible. When you sign up for a social media training course, that could be deductible. These deductions can save you tons of money on taxes.
Speaking of taxes – unless you’re a bookkeeper yourself, an accountant is worth their weight in gold. There’s so much to consider when going into business for yourself, especially if you have other sources of income. An accountant can give you advice on how to structure your business, which deductions to take, and other ways to reduce your tax liability.
There’s nothing wrong with paying taxes, of course. But as a small business owner, it’s essential to make sure you’re not overpaying. Every entrepreneur needs expert tax advice. And that’s why an accountant is one of the best investments you can make.
Save money while you sell crystals
These are strategies I have personally used to keep more profit for myself while growing my crystal business. Give them a try and let me know how they work for you!
Do you have other hacks for reducing your crystal shop expenses? I’m dying to know what they are, so please share in the comments below.