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Flemming Business Services

Inventory

Monday, June 13, 2005

I want to open an online shop for dogs. Right now I am having a hard time determing how much start up stock to buy! I am only selling collars and leads. Any advice would be appreciated!!


This is the million dollar question for all retail (online and traditional) businesses. Several things will help you decide:

1) How quickly can you get inventory? In as little as 2 days or as much as 2 months?

2) How much space do you have to stock inventory?

3) Can you get a price break for large quanitities of inventory?

4) How much can you afford to spend on inventory?

Obviously, you don't want to buy too much or too little. If you can get inventory stocked quickly you can bring in a dozen or half dozen of each style and reorder as you need them. This will help you decide what styles to keep and what to clear out.

Keep in mind what is hot today may not be tomorrow. Watch your pet magazines, show circuits and local pet stores for trends.

Posted on 06/13/05 at 21:25:45 by Suzette - Small Business Tax Expert
Category: Running Your Business

Comments

jake challenor wrote:

Great article. I edit a web based small business television channel and magazine in Australia - 'I'm Boss TV'.



There are some great articles and TV segments on xxx. Feel free to take a look and send through any feedback.



http://www.ImBoss.tv.



And feel free to submit any articles for consideration across any of the categories. We're always looking for content and contributors from around the globe.



- Jake Challenor
Posted on 07/17/06 at 23:12:04

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