Most likely a foolish query however I would love some enter. As you possibly can inform, I’m new to this.
I’m about to start out a brand new jewelry retailer and my objective is to have about 40-100 product listings. I can be promoting comparatively in demand merchandise of top quality.
Nonetheless, the factor that considerations me is that I’m not solely certain methods to choose the inventory that may promote out – or not less than most of it’ll. As a result of whereas the revenue margins are good, turning into worthwhile is the objective. Ought to I count on to promote largely 20% of my merchandise, the remaining being for look? And simply maintain reordering what sells, in addition to including new merchandise, i.e. new releases?
How typical is it to have inventory that by no means sells (out), and the way ought to that be accounted for when aiming to make a good revenue? I do not need to construct a retailer that merely breaks even when solely 20% of my merchandise really herald income.