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When to purchase stock?

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  • 30-05-2012 1:20pm
    #1
    Darkest Horse
    Registered Users Posts: 497 ✭✭


    Hi everyone. I'm in the process of setting up an online business that sells small consumer items with a fairly low cost price. My budget is tight-ish so I'm trying to be as frugal as possible.

    However, I'm not sure when to buy stock. A friend of mine, who has a fairly successful internet business, maintains that I must get people to the website and clicking on product links before buying any stock so as to have a decent level of site traffic before launch. I'm not sure if that's the done thing and I'm not entirely comfortable with it because I think it will cause customers frustration and they may not return if they see 'out of stock' transcribed across every item.

    The other alternative is just to buy a certain amount of stock and see how it moves. If anyone has any experience in this area, I'd really appreciate your opinions.

    Thanks,

    DH


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    #2
    Mr Bump
    Registered Users Posts: 108 ✭✭Mr Bump


    Not sure what you are selling, so there for not sure what suppliers you are buying for, if it where me, i would look at talking to the supplier first with a view to them providing a drop shipping service, nowadays this way is getting more popular with buyers and suppliers, this way you only pay them when you order also you might be able to agree credit terms with them which will increase cash flow, this will then reduce the space required for your business also the admin, etc, its a win win all the way if you can agree it with the suppliers,



    Darkest Horse wrote: »
    Hi everyone. I'm in the process of setting up an online business that sells small consumer items with a fairly low cost price. My budget is tight-ish so I'm trying to be as frugal as possible.

    However, I'm not sure when to buy stock. A friend of mine, who has a fairly successful internet business, maintains that I must get people to the website and clicking on product links before buying any stock so as to have a decent level of site traffic before launch. I'm not sure if that's the done thing and I'm not entirely comfortable with it because I think it will cause customers frustration and they may not return if they see 'out of stock' transcribed across every item.

    The other alternative is just to buy a certain amount of stock and see how it moves. If anyone has any experience in this area, I'd really appreciate your opinions.

    Thanks,

    DH


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