kw83028
* Ace Member *
Good luck! I would say pretty much what everyone else said.
From one owner to the next:
-Definitely 100% order the new releases as soon as you get word on their launch. People go nuts over anything new. BUT, on some of them, you'll have to try and make an educated guess on what will sell. It took me 2 months to sell 15 first run Innova Mystere, 3 months to sell 10 DD first run Criminal, but only 3 days to sell 40 Champ RocX3. Sometimes it's just a guessing game.
-I'm sure you have a decent idea as to what will sell well, but make sure you really pay attention to the trends in your store over the first 12 months. You obviously don't want to re-order something that you still have 5 of on the shelf from 2 months ago
-Keep your books clean and well organized. However you choose to do inventory, make sure you're able to track every single disc and weight class so you can see the trends and know exactly what you need to re-order.
-Don't focus a ton on special customer requests. As someone mentioned, you'll end up sitting on them. Probably 75% of special requests that I have fulfilled end up not being purchased by the person that requested them. I pretty much don't do it anymore unless it's something that I know I will sell if the person doesn't show up.
-An obvious statement on the money side of things, is make sure your time invested is worth it to you in your wallet and/or heart
-Something to think about, too, is if you can't afford to place an order, then don't do it. I have had talks with Innova/MVP/DD about retailers that require credit terms. That just boggles my mind. You'll never get out of the hole if you're buying on credit all of the time. You should have enough profit built in to your price points to pay your bills, order inventory, then pay yourself with what's left over. Sometimes, for me, that means not taking a paycheck for a month if I absolutely need to place an order.
-Another thought is to make sure your disc displays are easy to surf through and easy to stock and organize. I personally hate most of the wire racks out there that have the discs going front to back. I use PVC racks that I built. I think Glide uses some really nice wood boxes.
-Personally, I am anti Facebook groups, but to each their own. They're good for getting your name out there, but they are way too time consuming, and add an extra step to inventory each order. Do you have time to PM back and forth with a lot of people? If you get something special or rare in one of your orders, then FB is the place to go to make a few extra bucks for sure. If you run pre-orders on something that point the person to your online store, that works too. But overall, if you're running a brick and mortar, and an online shop, then direct Facebook PM sales are just a lot of time spent for meager sales.
-Finally, customer service is huge, obviously, lol.
From one owner to the next:
-Definitely 100% order the new releases as soon as you get word on their launch. People go nuts over anything new. BUT, on some of them, you'll have to try and make an educated guess on what will sell. It took me 2 months to sell 15 first run Innova Mystere, 3 months to sell 10 DD first run Criminal, but only 3 days to sell 40 Champ RocX3. Sometimes it's just a guessing game.
-I'm sure you have a decent idea as to what will sell well, but make sure you really pay attention to the trends in your store over the first 12 months. You obviously don't want to re-order something that you still have 5 of on the shelf from 2 months ago
-Keep your books clean and well organized. However you choose to do inventory, make sure you're able to track every single disc and weight class so you can see the trends and know exactly what you need to re-order.
-Don't focus a ton on special customer requests. As someone mentioned, you'll end up sitting on them. Probably 75% of special requests that I have fulfilled end up not being purchased by the person that requested them. I pretty much don't do it anymore unless it's something that I know I will sell if the person doesn't show up.
-An obvious statement on the money side of things, is make sure your time invested is worth it to you in your wallet and/or heart
-Something to think about, too, is if you can't afford to place an order, then don't do it. I have had talks with Innova/MVP/DD about retailers that require credit terms. That just boggles my mind. You'll never get out of the hole if you're buying on credit all of the time. You should have enough profit built in to your price points to pay your bills, order inventory, then pay yourself with what's left over. Sometimes, for me, that means not taking a paycheck for a month if I absolutely need to place an order.
-Another thought is to make sure your disc displays are easy to surf through and easy to stock and organize. I personally hate most of the wire racks out there that have the discs going front to back. I use PVC racks that I built. I think Glide uses some really nice wood boxes.
-Personally, I am anti Facebook groups, but to each their own. They're good for getting your name out there, but they are way too time consuming, and add an extra step to inventory each order. Do you have time to PM back and forth with a lot of people? If you get something special or rare in one of your orders, then FB is the place to go to make a few extra bucks for sure. If you run pre-orders on something that point the person to your online store, that works too. But overall, if you're running a brick and mortar, and an online shop, then direct Facebook PM sales are just a lot of time spent for meager sales.
-Finally, customer service is huge, obviously, lol.