just had to share this quote with you guys – came across it while i was going through this book called “living out loud” – me thinks you’ll be seeing me sharing some {funny} stories from it!!
ok, so this week’s question comes from michelle and it’s a goodie (plus, it’s one i’ve gotten from quite a few folks!)
My vision is a curated modern design shop focusing on gifts. I want complete control of packaging/shipping/etc., which leads to its own issues of wholesale purchasing. That in itself is a beast… and a whole different world to me.
I think it is tough to create an inventory and go out on that limb. It’s a big investment.
Do you care to share any of your ‘eye openers’?
this question happens to be perfect timing because i just started a 3 part series over at vianza on the ins & outs of inventory (another title could be “the good, the bad & the downright ugly of inventory”!)
whether you’re thinking of opening a shop, already running a shop or even an artist who creates products…you have to be thinking about inventory. because another way to think of inventory is that it’s money – your money – and it effects everything including the bottom line. and that’s what makes it so important.
in answer to michelle’s question, i had the same question to answer. did i want to house the inventory so i could have control over packaging & shipping or did i want to offer drop ship? there are pros & cons for each.
ultimately, i chose to carry the inventory so that i could maintain my branding – i felt it was important that each order i sent out had the OSR personal touch – through the packaging & handwritten notes as well as keeping control over timely shipping. i also wanted to work with small, indie artists and more often than not they don’t have the ability to do drop-ship.
just weight the pros & cons and you’ll be able to decide what feels better! i’m curious though to know what all you artists out there do with inventory…
how do you manage your inventory? what do you do when you’re unable to sell a particular item? for more tips on inventory, check out my post on vianza!
happy friday everyone!! enjoy the weekend!
to all my fantastic readers…do you have a question that you want included in these weekly q&a’s? please e-mail me at info@onesydneyroad.com with the subject line q&a, and i’ll get those questions answered!
Great post! Inventory is a bear but it was great to walk through your thought process. Thanks
i know it was lengthy but inventory is such a tough thing to deal with – so glad you found it helpful!! thanks victoria
Well I don’t have the same issue of having to “stock inventory”, but I do prefer to receive the prints/products so I can add my personal touch through packaging before the client receives them. It’s part of my branding and clients love receiving items all packaged up with a handwritten note. I’ve been told it feels like their birthday opening up the pretty boxes with all the details that go into it
Maddy, don’t you think that’s the great part of being a small biz owner – we can take the time to personalize and add those special touches. It’s what customers end up loving! I love that they say it feels like a gift – that’s so awesome!!
Your style is really unique compared to other people I’ve read stuff from. I appreciate you for posting when you’ve got the opportunity, Guess I will just book mark this site.