As a retailer, you know how easy it is to slip and over buy. That simple act leaves you with bloated inventories and excess invoices. And of course, a negative cash flow. So your natural inclination is to start taking markdowns to raise cash to pay the bills. The problem with that is markdowns eliminate your contribution to overhead and, naturally, profits.
Now you’re in a negative spiral of trying to find the money to pay the overhead – rent, labor, utilities, advertising, etc. – all the things that must be in place to keep your store open. There’s only one real option to dig you out of this overbuying problem and it’s open to buy.
The whole purpose of open to buy is to develop a buying plan in each of your merchandise categories so that you have the right amount of inventory in your store on the first of each month to support the sales you expect at the turn rates you desire. There’s no way you can get it right in your head and, sadly, most of the solutions available will not solve your problem, but will cost you a lot of money.
If you want to keep your store in the black, you need myotbplan.com. Why? Because our system is not only easy and affordable, it’s supported 10 hours every day, has no contract and is guaranteed to keep your buying right on target so you can maximize sales, improve your turnover, reduce your markdowns and make more money. You have nothing to lose and everything to gain!
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