If you have a small boutique or you plan to open one, it is important that you take into account, make a balance sheet. This will allow you to determine what methods to use to carry inventory in your small clothing store, achieving proper merchandise management.
Therefore, so that you know what to do in this field of investment and take care of your interests, here we will give you several tips. So, pay attention to the following suggestions, and follow the steps that we will indicate so that you carry a correct inventory of your store.
Track inventory with a ledger
In all stores there are high and low seasons, and that is a point that you must always keep in mind, to take care of your investment. It is important that you account for the garments that you offer in your store and take forecasts, to prevent them from being out of stock. So that you have an idea of what we are talking about, we will give you an example, so that you know what to do in your boutique.
Let’s say that in your store you have an average of 200 blouses, 300 pants, 100 shorts, among other clothing items. Once you have them accounted for, you will be able to control and organize your personal finances, using an accounting book, where you must write down all the existing merchandise.
With the help of this book, you will be able to carry out a financial balance, that is, keep track of the output and input of the product. This control will allow you to know how many pieces of clothing you have, how many have been sold and how much you must replace, in order to always keep merchandise in stock.
Create an inventory with software
Some programmers offer small stores inventory software that allows you to control the volume of merchandise and calculate income and expenses. And in this area, there is the importance of human skills in administration for the success of a business. And it is that, by knowing how to choose the best software, to carry a correct inventory of the merchandise, you will be able to obtain more profits.
After you have selected a software that suits your needs, you will be able to take an inventory of all the products you have in the store. So at the end of each day, you will know how much you sold, how many clothes you have and how many you have to replace, to control the budget.
Another method of keeping an inventory
An effective method that most clothing stores use is the barcode system. Thanks to this method you can easily account for all your garments with a code, which when scanned, will indicate the product’s stock number.
This method will be useful to you, since every time you scan a product belonging to an assigned code, you will know how many you have sold. And not only that, the computer will also give you the result, how many are left and how often they are sold. In this way you will be able to calculate, which product is more commercial, of course taking into account the season in which we are.
Take inventory with cash flow in mind
As a new entrepreneur, you may have the impulse to buy too much merchandise, without thinking about the long and short term consequences. And a point to take into account is, how commercial is the product, and how long will it last on the sales shelf.
You may come across a cheap product, but that doesn’t mean you should waste money on it. Since, if this product is not well received by customers, you will end up losing your investment, so keep these points in mind:
Cash receipts in a short time: It is the liquidity in finances, which allows paying off debts and making investments.
Long-term cash receipts: It results from the large investments that are always generating entrances to the store.
Inventories plus taxes: This is when you still have merchandise in stock and it has not left in a year, which will generate losses when paying taxes.
Inventories and losses: Acquire excessive merchandise, you run the risk of it being damaged, and you have to discard it.
We hope you can choose the best method to carry out an inventory in your small clothing store, with these tips.