Michael Rouet
Introduction
The summer days are giving way to autumn, peppernuts and Christmas balls are on the shelves, and the holidays are getting closer. The holidays often bring a lot of hustle and bustle, especially for entrepreneurs. During the holidays, as an entrepreneur, you can make a lot of extra turnover or just miss the mark. Good preparation is therefore essential to meet customer demand. Whether you have a physical store, an online store or a restaurant, it's never too early to start building up inventory for the holidays. This is how you prepare your company for the festive hustle and bustle.
You can learn from analysis
A good place to start is by looking into the past. Analyze last year's holiday sales and inventory levels. Which products were most popular? When did demand start rising? Where did you miss out on opportunities? What was missing from the product range? This data can help you better understand what to expect this year and which products to prioritize when building inventory.
Set the budget
Now that you have an idea of what to expect, it's time to set a budget. How much do you want to invest in your holiday inventory? Create a budget to determine how much you expect to earn from the extra inventory. Make sure you are realistic and take into account all costs, such as purchasing, storage and shipping.
Time is money
Make sure you are on time! A common mistake is starting to order inventory too late. The holidays are also busy for suppliers, starting months in advance. You want to make sure you can get your desired inventory during this period of increased demand. Make sure you place your orders on time to avoid disappointment and delays.
Time is money
Building up inventory for the holidays can be challenging, but with the right planning and preparation, you can make sure your business takes full advantage of this busy time of year. Start on time, analyse your needs and make sure you're financially prepared. Swishfund is ready to support you with a business loan so that your business can shine during the holidays. Wondering how much you can borrow? Feel free to make a request. We wish you the best of luck!
- Determine the opening balance of your business accounts on the 1st of the month.
- List the costs and expenses per month.
- You calculate the final balance by adding the income to the starting balance and subtracting the expenses.
- You now know exactly where there is room to invest or where you are short. Do you know when there is a need for liquidity? Make sure you look for the right financing.
“Planning, planning, planning... not my strong suit. However, I can ensure that I have some extra buffer within a short time by opening a loan with Swishfund.
- Determine the opening balance of your business accounts on the 1st of the month.
- List the costs and expenses per month.
- You calculate the final balance by adding the income to the starting balance and subtracting the expenses.
- Now you know exactly where there is room to invest or where you are short.
- Do you know when there is a need for liquidity? Make sure you look for the right financing.
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