Retailers Forum Magazine Oct. 2020 EMAG
Free monthly magazine for independent retailers and online sellers. Every issue contains valuable information on starting or operating your retail business. We also have advertising from the country's leading merchandise wholesalers where you can buy direct from to stock your store or online e commerce site. Enjoy our full site at: www.wholesalesources.com and get free resources and help for your enterprise.
Free monthly magazine for independent retailers and online sellers. Every issue contains valuable information on starting or operating your retail business. We also have advertising from the country's leading merchandise wholesalers where you can buy direct from to stock your store or online e commerce site. Enjoy our full site at: www.wholesalesources.com and get free resources and help for your enterprise.
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forumworkshop<br />
FORUM WORKSHOP<br />
Hereʼs how to determine the numbers:<br />
As I have said before, many people start businesses<br />
based on their professional (or hobbyist)<br />
experience. This is the first place you need<br />
to look for numbers. If you have worked as a<br />
manager, you have certainly had access to figures.<br />
You know what things cost. Write this information<br />
down. If you are a hobbyist, your<br />
numbers will be high because you have not<br />
bought in quantity. Call the people you have<br />
bought supplies from and ask what prices they<br />
would charge for bulk purchases, say a hundred<br />
or more. If you have no background in<br />
what you plan to sell, youʼll have to make a lot<br />
of telephone calls to potential suppliers.<br />
much capital you will need, assume youʼll pay<br />
cash on delivery. Itʼs best to calculate your<br />
money needs on a worst-case scenario – what<br />
if no one buys what you have to sell? What will<br />
it cost to open your doors for business?<br />
While youʼre asking about prices, also ask<br />
about terms. Will you have to pay cash or make<br />
payments over time? But to determine how<br />
Page 50 OCTOBER <strong>2020</strong> | RETAILERS FORUM MAGAZINE<br />
continued..<br />
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