Hey kings & queens! Can you believe that we’re almost into a new year already? This year has been crazy for me with the launch of new brands, 4 new books, and a host of memories as I went on tour in different cities across the nation. With all that being done, it’s time to get ready for the new year. You know what that means… drum roll please… inventory! Building your inventory for 2023 is something that you definitely want to be working on now. That way, once January 1st comes, you’ll be ready to hit the ground running. Not sure how to go about building your inventory? Sis, you know I got you! Keep reading to learn the top three ways to build your inventory for 2023 in your premium draping business.
Inventory Building Tip#1: Prioritize
When trying to build your inventory for 2023 in your premium draping business, it’s important to make a list of everything you may possibly need. This can range from small items like pipe cleaners and pins to bigger items like equipment and new drapes. Once you make your list, prioritize them from most important to least important. This will help you from a budget standpoint when it finally comes time to make a purchase. For instance, you need crossbars to run your draping business, but sequin is just a fluff item. You want to be sure you have the basics before you spend thousands on the fluff stuff, so take your time and make sure your list is prioritized.
Inventory Building Tip #2: Utilize What You Have
Before trying to buy up everything you see, be sure that you make a plan for how you’re going to use up what you already have in stock. That might mean having a sale with this certain type of fabric or backdrop. Or, putting together a mockup featuring that kind of treat table. What we don’t want to be is wasteful, okay?! We want to get as much use out of everything we have before we try to replace it or buy more. Don’t just throw old stuff away. Find a way to use it to build your pipe and drape business. Think outside the box. Create mockups, barter services with other event planners, or even drop a sale on your website to bring in some coins. Whatever you decide to do, just be sure that it’s in alignment with your brand and what you want to be known for.
Inventory Building Tip #3: Invest in Multi-Use Items
Finally, when it’s time for you to make your purchases, be sure to start by buying items that have multi-use. Hopefully, they should have been at the top of your priority list, but if they weren’t, go ahead and put them up there now. Remember, the name of the game is profit, not spend all of our coins on inventory. Therefore, you want to buy things that you’re going to use multiple times before you go down that list to the fluff items that may only be used once or twice. A few examples of multi-use items are your double drape systems and premium fabrics.
There you have it! Now, you know how to build your inventory for 2023 in your pipe and drape business. What’s the first thing that you’re going to get? Be sure to let us know in the comments!
Don’t’ forget, that we have all of your premium draping needs here at The Posh Academy. Just visit our store to see how we can help nurture your business.