When starting an online clothing business, you are likely wondering how much clothing you need to order, but that also comes with additional questions such as how much do the clothes cost, how much money would you like to make, and where are you going to store these clothes. That does not even mention the time it requires to write product descriptions, take pictures of each product, and write meta tags so that customers can find your items in and outside your website.
Knowing how much clothes you should order for your store is easy, so long as you diligently go through this four-step process.
Set Up A Budget
You should first put aside an amount of money of what you are willing to spend on your inventory. Additionally, you can create a spreadsheet (either in Microsoft Excel or Google Sheets) as a means to keep track of what you spend your money on and how much. You can use a spreadsheet to calculate how much money your order of clothes would cost before you buy it so that you can make changes to the quantity of each item.
Find the Right-Sized Storage Space
Finding a place to store all your inventory is also just as important. Physical stores have the luxury of having their own backrooms and inventory rooms that they can use freely, so online-only retailers must find space to store their clothes. To save money, store owners keep LA wholesale clothing in a room inside their own homes, but if that isn’t an option, the next best thing would be to rent a self-storage unit. When dealing with clothes, they must be stored in a cool, dry place. No matter where you end up storing your merchandise, you also have to take hangers, racks, and containers into account.
Buy Clothes for Next Season
Never order clothes for the current season. This is because you will end up with fewer sales than expected and with much less time to sell it. Instead, order clothes for the upcoming season. If it’s summer currently, order clothes for the fall. Many stores plan even five to six months in advance for a specific season, just so that they have time to advertise the clothes and get it all ready to sell before the season even begins.
Learn About Risk and Reward
When owning a business, it’s important to know that risks are taken in order to reap large rewards. If you play it safe and don’t take risks, then don’t expect to make much money. But it’s not the luck of the draw, by any means, as it takes instinct to know what will sell and what won’t. When ordering new clothes, be sure that you order clothes that you know will sell. Consider the color, style, and quality of each garment and make a judgment on if this will be something a lot of people will want.
When it comes to risks and rewards, it’s also crucial to learn that investing in more clothes doesn’t always mean making more money. Before you order a new shipment of clothes, learn about how much you can actually spend so that you also learn about how much you can afford to lose. The more clothes you buy, the more difficult it might be to sell out before the season is over.
It can be hard to know how much clothes to order for store owners. They can get a good idea, however, when considering their budget, inventory space, and planning so that they can get a sizable revenue cycle going.