She is also a contributing writer at The Spruce and Martha Stewart. Warehouse Anywhere, a subsidiary company of Life Storage, is an inventory management company that uses tracking technology to turn storage units into mini-distribution centers in any city you need. 
This mistake can be costly come tax time. To support this strategy, think about using an inventory management system (IMS) that uses an ABC system that ranks items based on demand, cost and risk. Inventory Storage & Organization Tour | Online Resale Business (https://youtu.be/3SXIgHwjabg). Trying to find one sized 34W x 38L is a pain, when youve got 50 random items scattered on the floor. You will basically need to transform 180102 to look like 1/2/2018 in excel. For smaller sellers, Im a big fan of bins that fit nicely on shelves not too short, tall, or bulky. It may need some tweaking to fit your exact business model but has worked for me over the past couple of years. Great - let's find it for you! Whether you are selling clothing, small appliances, or just about anything else, you can fit alot more inventory on these, and they can grow with you. When it comes to storing and organizing your clothing resale inventory, youll want to think like a warehouse. The further out from the city you go, the monthly rates may be lower, but there needs to be some thought given to your quality of life and your ability to get work done quickly. For instance, an antique shop that sells one-of-a-kind items will require a much more specialized management platform than a company that sells the same thing over and over. These tips and tools are specific to small businesses and can help alleviate some excess work, create a harmonious working environment, and make sure youre able to organize inventory effectively. instead of dealing with clutter and disorganization. Every few days we pack all of the items from that bin into poly mailers, assign them an inventory number, and take them to our storage unit. This can be a small storage unit, if your business is making $60-100 in profit every month to cover the cost. The right system and storage management process can turn a struggling resale business around or help your successful business grow faster and get to the next level. So for example, if I sell this Adidas t-shirt on July 15th, 2018, I can simply run a report of all of my sold items, and determine (based on the SKU number) that this item was listed on January 2nd 2018. From there, place it in a bin labeled A01-A20 for example, and start filling up your first rack. When your business hits an unanticipated growth stage, its too much for one person to handle. With our flexible and scalable solutions, you can track an infinite number of items and SKUs across multiple locations. Look for signs that your storage unit facility is clean and well maintained. We live in Utah with 105-degree summers and -20 degree winters which can take its toll on storage. I use the tape to seal the bag itself. Your company will be free to grow faster as you fill orders more quickly and serve your customers better. An open shelving system is one where the shelves are not enclosed by doors, making it easy to see whats on each shelf. Now that youve put your inventory away, youll need to track it. When something sells, we check the inventory number in the listing, find it, seal it, and ship it! Again, youll want to think like a warehouse. However, as your business grows, it can be tempting to intermingle work and home life out of laziness or convenience. B1 is always the bin on the left, and B2 is always the bin on the right. Its essential to keep these best selling items close at hand and not tucked away in the back of your storage space. Most small business owners will agree with the 80/20 rule. If you have a warehouse, it follows the same principle. We dont use a climate-controlled unit and lose some inventory (usually shoes) to the weather every year. Keep high-selling items at the height thats easiest for you to access so youre not reaching up, climbing a ladder, or bending over to pick things up all day. I find that most of the time, you can pick these items up a bit cheaper online than you can at Staples or even Walmart. Stay on the lookout for anything that feels burdensome or inefficient and find a suitable workaround. Include detail such as: When you are finished, any warehouse operatives looking for items should be able to find them easily and tell what they are without opening any packaging. Still, apps are available to make it possible to digitally manage your stock without spending big bucks. This site uses Akismet to reduce spam. Forever. Dont Lose Money In Unlisted Inventory, 11 Things You Cant Donate To Thrift Stores, Can I Buy Gold or Silver on eBay? This type of storage uses racks that are tall and skinny, allowing you to store a lot of items in a small space. Most storage spaces cost significantly less than commercial warehouse space. Nothing is ever set in stone, so remain flexible as you refine what works for you until you have a system that works for you and any employees you have now or hire in the future. So heres what we do. Things were impossible to find when they sold and we had no room for new inventory. Need a Cheap Thermal Printer for eBay or Amazon? You could lose money from lost sales or gain dissatisfied customers when you cant find items to pick and ship. If you arent organized and diligent, unorganized and untracked inventory can quickly turn the bookkeeping process into a nightmare. If you have a 5-shelf rack, the bottom level would be S1, the second would be S2, and so forth. 5 Models Under $200, How to Take Good eBay Pictures Under $100 A Beginners Guide, How to Install Running Boards on a Jeep TJ or YJ (for $100! Luckily, there are a few things these business owners can do to get their inventory organized and running smoothly. Moving those items out of the office and into self-storage unitscan be the easiest and often most cost-effective solution. The more you can separate home from business, the less likely youll be accused of commingling personal and business funds and resources. Additionally, open shelving systems allow for good airflow, which is important for preventing mold and mildew from forming on clothing. This way, you can devote time to other integral components of growing your business. Keep stock in storage as well so you can replenish your office or home supply when it runs low. Close the polymailer with a small strip of masking tape. Keeping an organized inventory is one of the best ways to track what you have, how every item is selling, and when you need to purchase more. Ive found that when trying to find inventory, its easier for me to move bins that are filled to capacity when they only hold about 56 quarts. There is a lot to know, and plenty of mistakes to avoid. If you rely on a lighting setup to get your best product photos and would also like to use your storage unit as a studio space, be sure to check with the facility. Most clothing resellers incorporate boxing storage on some level with their inventory management. If you have a warehouse, arranging them in rows may be a good idea. You can start with a small 4 x 10 unit, and evolve to a climate-controlled 10 x 10 unit, which I recommend. (Complete Answer), Is List Perfectly Down Right Now? This may seem like a no-brainer, but youd be surprised how many resellers dont take the time to properly label their clothing. There are several items that are helpful to have when getting started that I use just about every day. A Guide for Beginners on a Budget, 11 Tips for Starting a Lifestyle Apparel Brand on a Budget, 5 Key Steps to Convert a Spare Bedroom into a Home Office. So Ill show you what we do and you can take it from there for your own situation! Once everything is organized, youll save yourself a world of heachache. Not every small business has the funds to set up an expensive inventory management software system. I have used masking tape for everything from labeling bins, shelves, and inventory more on that later. Most companies with a vast and varied product inventory operate on a system that uses SKUs on the outside of containers or boxes. You can look for things like signs of rodent issues, and ask the facility whether they have a pest maintenance plan. As your business grows, you can authorize other people to retrieve items from storage without giving them your house key, and you can always move to a larger unit if needed. Whether you are selling on eBay or Shopify, Im going to share a simple inventory system that you can implement to take your small business to the next level on a very small budget. So, for example, on the 2nd row, I listed an item on January 2nd, 2018. Hi, ImBaxter, thanks for checking out Conservative Ticket. You might be thinking, why not just use my garage? Its not rocket science. Lauren Thomann has written about self storage and moving since 2015, making her our storage expert. I can only fit 2 bins on each shelf, so every SKU has either B1 or B2 included. However, if capital and space are limited, youll have to get creative with how you store and keep track of your inventory while also growing your business. Heres where the masking tape and poly bags come into play. About Us Affiliate Disclosure Privacy Policy Contact Us, ResellingRevealed.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com, 2022 ResellingRevealed Built with GeneratePress, 3 Bonus Tips For Handling Your Reseller Inventory, 2. Ensure that the print on labels is neat and large enough to be read easily. It is in area #1, fixture #1, shelf #1, bin #1, and the Item number is A01. Now that you have a basic inventory system, in place in excel, Ill explain what the parts to this system actually mean, and how to assign labels to individual items. For instance, you can identify A items with high demand and move these fast-moving items to the front for easy access. Whatever options you ultimately decide on, clothing inventory management for resellers is a constantly changing process that gets tweaked as you grow. Additionally, our solution is designed to work with a wide range of businesses, from small businesses to enterprise companies. You dont want to sign a year lease only to grow out of your space in six months. This system is better than storing them alphabetically in your storage facility since that might put clothing items a good distance away from each other. Open shelving systems come in a variety of sizes and can be customized to fit your needs. Most big box and online retailers like Walmart or Amazon offer bins or totes in a range of colors and materials to suit your style and inventory. eBay quickly took over our house and left us having nightmares. Soon enough, youll be handling and tracking your inventory in a way that drives your business instead of holding it back. Having a designated spot for unlisted inventory was instrumental in streamlining our processes. Done Mini Storage Sizes: How Much Space Do You Need? The bottom line is that you will want to set up a system that allows you to quicklyfind your inventory. Too many resellers struggle with inventory management. If you find yourself running a small business out of an apartment, townhouse, or a single bedroom inventory is eventually going to become a problem. The more you can do to separate your small business inventory and operations from home life, the better. link to Mini Storage Sizes: How Much Space Do You Need? This also makes it easy to keep track of how long it took for an item to sell. How can you keep track of everything in your clothing resale inventory once its put away in your storage system? No more moving around and switching between items. Im going to start by listing some supplies that you will need to make this happen. Ive learned a lot over the years from people willing to give back, and want to pass that knowledge on to others. When your home is your workplace, its really difficult not to bring your work home with you. So, if you can fit 7 racks in your storage unit, you would label each rack as F1,F2,F3,F4 and so on. Learn more about how this company can help you manage your small business inventory effectively here. If you have a lot of products, consider breaking them down into categories such as: Additionally, its a good idea to keep similar items together. With a storage unit, you can open up more living space in your home or link to How Much Money Is Enough to Move Out? N41 ERP will save you time and money by automating many of the tasks associated with keeping track of what you have in stock. I always make sure I enter January as 01, instead of 1, for reporting purposes. After listing an item on Shopify, eBay, or wherever you sell, start filling out your spreadsheet, and assign an item number. its not necessary to have this kind of insight if you are a beginner, but definitely helpful as you begin to grow and want to know what items have the best sell-through. we find its easy to organize and store eBay inventory that is in polymailers. Read the infographic below to see how much you could save by using self storage for your businessinstead of dealing with clutter and disorganization. Many companies use a combination of shelving units and stackable containers to build vertical storage solutions. I have gone through about 3 to 4 rolls this year selling on eBay part time, so you may want to pick up a 6-pack on Amazon for about 12 bucks if you are a medium to high volume seller. The last part is the actual item number. Keeping your resale clothing inventory well-organized will help streamline your business and make shipping, tracking, and sourcing more efficient. Not every storage unit has internal electricity, so you need to decide whether its something you need. Even if you do find a storage facility that offers in-unit electrical outlets, most storage facilities have policies about what kind of work is allowed in their units, so just be up-front and ask before signing your storage lease. Its also good because all you need to do is look up and down to find the correct container instead of walking down long aisles that contain boxes or totes on the floor. This one made by Seveille Classics is their #1 bestseller. I use a spreadsheet when adding items to my eBay store, Shopify store, etc. Make sure that whatever you do can be scaled up when you have more inventory and adjusted as things sell. Time is money, and you dont want to be stuck trying to sort through 20 pairs of Levi jeans that all look the same. (Without Getting Scammed), Can You Sell On eBay Without PayPal? Right? Keep in mind, you may wish to separate your inventory from your personal life believe me, it can test your sanity if you are still storing your inventory in a bedroom, along with your personal stuff. However, we ran the numbers and came to the conclusion that a temperature-controlled unit doesnt make sense for us. When you throw out or donate existing inventory, be sure to log an inventory adjustment with a valid reason like wastage. While it may not be for everyone, this is the method that weve found to keep our eBay inventory organized! as you grow. If youre not sure how to get started with your own spreadsheet or what to track, plenty of resellers out there have created resources to get you started. Organization Starts When You Buy Inventory, 3. Theyre also easier to break down and rebuild. Weve had to redo our entire inventory system twice which takes several days and is super unproductive. The more accountable you can keep yourself, the better off your business will be! Then determine the type of support staff you need to do the rest. This is particularly useful for resellers that source their clothing from wholesale markets, because this inventory generally arrives already in boxes. For example, say you carry sports clothing. Storage units are more accessible than ever today as more people enjoy the flexibility and affordability of local units. Area 1 for me is my storage unit. Were exploring several smart ways to simplify small business inventory management. There are times that you may need to veer away from this rule because of unusual packaging or other ways that products arrive at the warehouse. This extra step will take you time upfront, but it will cut down your time spent updating your inventory because you wont need to account for items youre not using. Many homeowners associations prohibit residents from using their garages to store inventory. Ill explain more in the next section. Practical Bathroom Organization Ideas for Real Life How to Pack Dishes for Moving and Shipping, How to Keep Your House Organized Easily All Week Long. There are two main ways that this happens: Having a solid and reliable way to organize and store eBay inventory is the major difference between having a frustrating hobby, streamlined side business, or a full-time living. On the other hand, the system can also help identify low sellers so that they can be moved the furthest from the front or prepare for an eventual phase-out. If you are keeping inventory in a storage unit, you dont really have to worry about dust or debris getting on your items. Another popular mode of storing apparel items is vertical storage. Moving out after living with parents or the dorms is an exciting and stress-inducing experience. We would be happy to discuss your specific needs and see how we can help you take your business to the next level. Business owners grow weary because theyre trying to manage sales, update social media platforms, file quarterly tax paperwork, manage inventory, and keep the accounts and ledgers balanced. So whether you have a single store or are managing a global operation, we have the right solution for you. I always imagine being at a part and someone who sells on eBay asks how I handle my unlisted inventory. If you dont have the budget for an office, you can make your home office much more efficient by setting up a virtual office. Small business inventory management systems dont need to be complicated and expensive to be effective. F1=Fixture 1 in this example. People joke about having an eBay death-pile but the idea doesnt really amuse me. It pays to be smart when you are organizing your inventory. Read the infographic below to see how much you could save by using. For a monthly fee, you can set up a separate business phone number, a live receptionist answering phone calls, a corporate business address for all your mailing and packages, personalized voice mailbox, and even a fax number that will convert to email. Its essential that tracking inventory doesnt become your full-time job. On top of running the business, many business owners need to keep track of a working inventory, whether thats in the form of supplies or finished retail products. Our small hard goods go in numbered totes and larger items simply go on numbered shelves. When youre dealing with hundreds or even thousands of items, its crucial to have a system for keeping track of them all. Year, Month, and Day are pretty self explanatory, and help keep track of how long it took for an item to sell. Once the item number is assigned, place the item in a clear poly bag, and write the number of a piece of masking tape to stick on the bag. That way, when new clothing items come in, they can be properly sorted and labeled. As a college student, I was always interested in saving money any way that I could. (Yes, Its So Easy Now), 11 Items You Cant Sell On eBay (Where To Sell Instead), How to Flip Furniture for Fun and Profit (Start To Finish), Where To Dumpster Dive 11 Specific Spots For Big Scores, Can You Sell Mystery Boxes On eBay? Basically the area you are keeping this group of inventory. If you are organized and tend to stay on top of things, then using a spreadsheet on a computer to update clothing movements and transactions will work for you. The first step to organizing apparel inventory, or any inventory for that matter, is to use labels. However, if you only have a few SKUs, you can start by purchasing your first storage rack to keep in your house or apartment, or just start with purchasing bins. As long as you know the date the item sold, and the SKU number of that item listed, you can easily calculate how long it took an item to sell using an excel formula. You cant efficiently get work done when your office space is cluttered with excess inventory. I arrange mine clockwise around the perimeter since I use a storage unit, so it gives me room to walk around. Many sellers lose money on unlisted inventory and never even know it. Even if there are no restrictions, most people like to use their garages to house their vehicles. Many small businesses run out of home offices and workspaces. For any business, an inventory that isnt organized can cost you time and money. It all depends on how large your business is and how much stock youre dealing with. We originally rented a 10x15 storage unit but outgrew it within a matter of months. This is actually used by Amazon and many other retailers to prevent errors. If your shelving configuration is such that you have aisles in between shelf units, youll want to leave as much room as possible in the aisles for when you need to bring down a box or storage container and open it up. Warehousing costs are a big concern for many businesses. Is the storage unit close enough to your home or office to make sense? The benefit to doing this is that the likelihood of you mistaking one item for another is greatly reduced. They keep buying things that dont sell well and dont have enough runway to plan when certain categories or brands gain popularity and start selling out. Whether a large or small company, everyone wants to find an inventory storage solution thats affordable enough to keep costs reasonable but also something thats in a good location and big enough for some amount of growth. Thats not how a business functions. N41 is an apparel ERP software and solution, Nouvolution Inc is a registered ISO of Wells Fargo Bank, N.A., Concord, CA, N41 is a registered ISO of Wells Fargo Bank, N.A., Concord, CA, Artificial Intelligence Impacts Fashion Industry, How IoT Connectivity is Disrupting the Fashion Industry, Apparel Software- A Must-Have for Fashion Businesses, 10 Reasons Why the Apparel Industry Needs an Inventory Management System, ERP Software Solution Providers Making Life Easier | N41, How N41 All-In-One Apparel ERP Solution sets the pace in todays multi-channel & digital world. The part of the SKU is S1 or shelf 1. You can fit alot of inventory into the large 18-gallon storage tubs, so it might be worth picking up a couple of these. I have been using them for about a year now, and usually insert anything from shoes, hats, and clothing into these BEFORE storing them in plastic containers. We pay $250 a month for our unit but it has repaid us many times over with peace of mind and a home we can relax in. Separating our home life from eBay as much as possible has given us the real freedom we were looking for in a small business. For me a fixture is the same as a 5-shelf rack. Everyones operation is a little bit different, but I definitely recommend metal racks as opposed to plastic. But what does this mean from an office perspective? Its time to find your own place! As your business grows and your needs change, you can change your inventory management technology as well. The more organized you can keep your eBay inventory, the better off youll be. Lets say you have anywhere from 200 to 300 items per day, having to constantly re-stock stickers, labels, or whatever it is that you use can become unnecessary. :(. But first, lets discuss why its important to have an organized inventory. As an Amazon Associate I earn from qualifying purchases. Once you have your items labeled, its time to start thinking about where you will store them. If youre new though, I know it can be overwhelming to set up. Effective tracking systems reduce the potential for lost or misplaced inventory, and can help inform your sourcing decisions by making you more aware of when its time to replenish a certain category or brand. An organized inventory is important for a few reasons, including: With the right system in place, you can easily keep track of what you have and locate items when you need them. That means youll have a few items that are big money-makers for you and your small business. When you get too big for a spreadsheet, give N41 a try. Count your best sellers when you have fresh eyes and match the number on the shelf to the number on your software. On the other hand, if you are not the type to go through the trouble, your inventory will eventually become a mess. Stickers with stock-keeping unit (SKU) numbers can also help you label and track your inventory. We hope this article inspired you to revamp your small business inventory management system. Many small businesses get by with simple spreadsheets on computers to track inventory. While youre at it, keep these best sellers in a prime storage location. I treat days the same way 01, 02, 03, and so on. If you are not full-time, I would find a location near your full-time or part-time job, so its easy to drop by in the mornings, or after work when you need to pick up inventory that sold. The two main storage systems used in warehouses by resellers are open shelving and vertical storage. Please accept my cancel order request so I can send you a full refund as soon as possible. Prices range from free to $100 per month, depending on what features you want and how hands-off you want to be. Write the next inventory number on the masking tape and add it to the listing. To keep these items handy, you can set up and use a bookshelf in your office or your garage (if you work from home and your HOA allows it). When youre taking a manual inventory, its wise to start with the items that experience the most change. (Obviously, this depends greatly on the size of your items.but thats a good general guesstimate). I keep it simple and assign a letter and a number to each item. Instead, we try to keep inventory moving and keep any truly sensitive or expensive items at home. We finally hit the point where, if we wanted to stay sane and continue to grow our business, we needed a reliable method to organize and store eBay inventory. For a lot of small and medium businesses, storage units provide a flexible, scalable inventory space.
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