jayraa Posted April 25, 2010 Share Posted April 25, 2010 Hey all,How is everyone?This is my first post on your wonderfull and helpful forumI was wondering if someone could lead me in the right path, my question is how much starting capital towards stock did you buy before starting your online business? Also how many of each product do you keep? for example if you have 600 products listed on your site would you keep 5 of each a total of 3500 seems quite steep lol because you see shops starting with about 10 000 products out of no where i mean do they really have about 50 000 items in stockSorry if this a newbie question but i am kinda lost in the sense of stock levels and how to keep your customers happy with your shipping service.Thanks JayRaa Link to comment Share on other sites More sharing options...
cocothecat Posted April 25, 2010 Share Posted April 25, 2010 You can either find a supplier that will drop ship for you (holds all the stock, and then delivers to the customer for you once you pay them, and the customer pays you) OR you can buy stock.One important thing is to only advertise items you have in stock, or know that the supplier has them!!If your just starting out as well, id suggest just focusing on 1 or 2 product areas and add more as the business grows!We keep around 4,000 items in stock at our local warehouse. Link to comment Share on other sites More sharing options...
jayraa Posted April 25, 2010 Author Share Posted April 25, 2010 You can either find a supplier that will drop ship for you (holds all the stock, and then delivers to the customer for you once you pay them, and the customer pays you) OR you can buy stock.One important thing is to only advertise items you have in stock, or know that the supplier has them!!If your just starting out as well, id suggest just focusing on 1 or 2 product areas and add more as the business grows!We keep around 4,000 items in stock at our local warehouse. Thank you for yout prompt reply:)I think I might have to go with the buy stock and keep it on hand option, most of my products are sources locally in Australia and alot of suppliers do not wish to get involved in dropshipping lolI think ill start with about 300 to 400 products keeping about 3 to 5 of each and work out what sells the best and hold extra amounts of that product Link to comment Share on other sites More sharing options...
cocothecat Posted April 25, 2010 Share Posted April 25, 2010 Your better off speaking to your suppliers and asking what are the top products. Buy them (if you can compete on them price and market share wise) and then buy any offers they have, and start off that way. Thats just my advice mind! Buying 5 of each item if your holding 300 of each takes up alot of space and working capitol. What you going to do if half your stock doesnt sell? Link to comment Share on other sites More sharing options...
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