How should I plan my inventory purchases?
Take into account your expenses eg rent, power, wages etc etc and work backwards. You need to have enough stock per season to sell to not only cover your expenses but to give you a profit. Allow for markdowns in your stock too.
When should I start ordering?
Fashion ranges work on indent, we take orders approximately 6 months prior to them being manufactured shipped to your store. Summer indents are done in Jan/Feb/March and Winter indents are done in July/Aug/Sept – depending on the range. It is ideal to indent your ranges, but you may open midseason, so we work with you to supply from stock on hand.
Which labels should I stock?
This all depends on what is available for you to purchase, so check out if another store in your locality already stocks your desired brands. Do some homework about what you see your potential customers wanting – budget, medium or upmarket stock? Maybe it is all three.
Can The Gibson Agency guide me with ordering?
We try very hard to help all our new accounts spend within their budget especially when opening a new store with so many expenses to consider.
I’m opening a Web Based store – can you supply me?
Only certain brands will supply a web based retail outlet. Depending on the brand, some will require a deposit on order, others will want to see your webpage before supplying. None of our manufacturers will supply EBay stores, Party Plan or outlets selling at the markets.
When do I pay for my order?
You will be asked for a deposit by most manufacturers, this will be due for payment within 7 days of placing your order and paid direct to the manufacturer. This is only for the first season or two until you get your account established, unless you are a web business who are required to pay deposits on all orders. You will be asked to pay for your stock once the shipment is ready to be delivered.
Do I have to complete credit application and terms and conditions forms?
Yes, manufactures won’t supply you with your order unless you complete these forms. You will also be required to sign their order confirmation / cancellation policy at time of ordering. This is your commitment to the stock you have ordered.