The Importance of Building Your Inventory
• It is proven that the more inventory you have, the more you sell, and in turn it helps you make more.
• The more variety and selection you have on hand maximizes purchases.
• Having an inventory that is too small holds a potential risk in not finding enough items that perk their interest, so they actually buy less.
Making sure you have a good amount of inventory is KEY to your business. It also helps with booking parties.
Potential hosts are more likely to have parties for you, if there is a variety to choose from. There is nothing wrong with starting small and building your inventory up.
If you start with 100 pieces of inventory, take 25 pieces that you sell through and purchase 50 pieces from the money you made with those 25 pieces. By doing this you are increasing your inventory and selection and it will be more appealing to your customers.
EXAMPLE:
When you sale through all 100 pieces, put all the money you made back into buying 200 pieces, So now you have built from 100 pieces to 200 pieces of inventory.
Now that you have 200 pieces and sell 50 pieces from that, put that money into buying 100 pieces. Now you have gone from 200 pieces to 250. You have 250 pieces and sell 50 pieces. Put that money into buying 100 pieces. You now have 300 pieces of inventory.
Once you get to the amount of inventory you want, then you can start to enjoy the 45% commissions that you make after each show. But do what works best for you and your situation.
Click below to download a printable PDF of the inventory list
to help you organize and track your business transactions.
