To carry inventory or not
Posted: Sun Jun 25, 2006 1:09 pm
I've been thinking about the pros and cons of carrying inventory. With Clumber Parties you are given the option of carrying inventory with you to your parties. I like the fact that more people buy when they are given the oppurtunity to bring it home that night. But I'm a little leary of investing so much money in inventory when I need the income from my parties.
I already know that as I start I will build up my demo line to carry as much stuff as possible. There is a thrill in being able to touch and see all the neat things even if you don't intent to buy the 130.00 object. But what about inventory? Once I get my demo line built up should I invest in inventory? If I do invest which items should I carry first/most?
Would you say that the creams/lotions and such are bigger sellers and more impulse buys than say the bedroom gadgets? Or would you think having the higher priced gadgets to be the most likely to be turned down if a customer has to wait?
I'm trying to work out a plan in which to re-invest back into my business. I'd like to eventually be able to carry everything all the time, but just starting out that is not possible. I'm thinking long term here. Also what percentage do you think is best to re-invest into your business. At first I was thinking just about everything from my first couple of parties. Then from there once I've gotten my demo line set up investing a smaller portion back into inventory. I know it will take me longer to build an inventory line doing it this way but I will need my income for personal, Otherwise I would not be doing this at all.
Please share your ideas on how you built up your business. And maybe some mistakes you made along the way.
Shannon
I already know that as I start I will build up my demo line to carry as much stuff as possible. There is a thrill in being able to touch and see all the neat things even if you don't intent to buy the 130.00 object. But what about inventory? Once I get my demo line built up should I invest in inventory? If I do invest which items should I carry first/most?
Would you say that the creams/lotions and such are bigger sellers and more impulse buys than say the bedroom gadgets? Or would you think having the higher priced gadgets to be the most likely to be turned down if a customer has to wait?
I'm trying to work out a plan in which to re-invest back into my business. I'd like to eventually be able to carry everything all the time, but just starting out that is not possible. I'm thinking long term here. Also what percentage do you think is best to re-invest into your business. At first I was thinking just about everything from my first couple of parties. Then from there once I've gotten my demo line set up investing a smaller portion back into inventory. I know it will take me longer to build an inventory line doing it this way but I will need my income for personal, Otherwise I would not be doing this at all.
Please share your ideas on how you built up your business. And maybe some mistakes you made along the way.
Shannon