Hiya Vic,
Here's a few as I see them:
Pros:
1) Product is available 7 days a week vs. 1 or 2 at a craft fair.
2) No sales tax headaches (as a wholesaler you don't have to deal with it).
3) In the right shop, established, typically affluent customers.
4) Added production time (i.e. you're in your shop instead of losing 10 - 14 hours a day at a fair).
Cons:
1) Lower margin (retailers will typically pay 50% - 65% of retail price)
2) No direct customer contact.
3) Custom orders are somewhat more difficult to deal with due to the third party involved (this depends on the retailer).
4) Some dealers require exclusive rights where you cannot sell the product yourself or to anyone else within a specified radius.
That's just a few of the pluses and minuses. Personally, I find it's worth it but I figure all of my pricing based on wholesale and then tack on 35% when I'm doing fairs.
Kevin