You bought it because you loved it. Now you have to live with it and hope it sells. Why? So you can turn it into cash. Cash is what you need to pay your suppliers, your overhead and YOURSELF! When you have a store full of merchandise, you’re stuck. When you have a bank account full of cash, you’re free to do anything you want, buy anything you want, promote anyway you want. You get the idea.
As you reopen your store, look around and figure out what you need to get rid of. If it means discounts, just do it. Don’t even think about putting merchandise away for next year. Turn it into cash. While you’re making those decisions about your inventory, make sure you set up an open to buy system – if you haven’t already. Open to buy will allow you to understand your future needs based on your anticipated sales and desired turn rates. You will see immediately where you are overstocked and can take action to turn it into cash. Then you can buy properly as you move into the future.
Guessing will only create more problems. Open to buy provides the answers that will put you in a positive cash position. You can always get more merchandise, but you can’t always sell it. Let open to buy be your guide and you’ll always be in a cash strong position.
myotbplan.com is the best open to buy system available! It’s easier, more accurate, more accessible, better supported, the only one that’s guaranteed and has no contract. You have nothing to lose and so much to gain. Call 310-829-5148 today with your questions at or just fill out the no obligation Subscribe form online and we’ll call you. Why wait?
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