Usually, suppliers will begin stocking up on inventory earlier than you think. Right now, we are in May, and students are preparing for their summer break and getting a break from school soon. However, many retailers are already preparing for “Back to School”. Why is that? Because it takes time for many retailers and small businesses to prepare for the big rush that will follow the summer break. So would now be a viable time for small businesses to begin stocking up on cool backpacks, pencils, and binders? Absolutely, and here is the reason why.
What most new businesses do not understand is that (especially if you are signing up with a new supplier) it takes suppliers time to fulfill your order and deliver the goods to you. After you’ve received your goods, it will probably take you time to have your newly received inventory entered into your system, listed on your website, or displayed in your store. After you’ve placed your products, you have to start making preparations for promoting it or letting your customer base know that these products are available, and that they are getting the best deal ever. This process takes a lot of time, but it will pay off because you made preparations early.
Have you ever seen the Halloween pop up stores? Do you think these stores just pop up out of nowhere? Well, I’m sure they can set everything up overnight. But everything else including getting inventory and making the preparations probably took them months. Then within that one and a half month right before Halloween, they’ve made enough money for the entire year. That is how you are supposed to see every niche product and aspect of your business.
If you are looking for a reliable source for a wide variety of inventory, AllTimeTrading.com is one of my personal favorites.