Having the funds to ensure you have plenty of inventory on hand during the holidays can be tough if you have cash constraints. However, using a small business loan or another capital source is one way that companies can get the funding they need to meet their financial obligations throughout this busy season.
Business loans are one way to ensure you have plenty of inventory on hand during the holidays. Inventory is expensive for retailers, but sales can also suffer when there isn’t enough product available. If you don’t have the funds to ensure that your company has enough inventory, then you won’t be able to meet all your financial obligations during the holiday season. The good news is that getting a small business loan before the holiday shopping period begins or during this busy time can help merchants avoid these unnecessary expenses.
The holidays are finally upon us which means your business is probably doing brisk business. Inventory can take up valuable space which you could be using for other things like expanding the store or increasing your inventory of products that people want to buy now. Inventory can be expensive, but it’s an investment worth making if you have extra capital available. A small business loan from Progressive Business Capital can be the solution to your problem.
Inventory stock purchase can be very stressful especially when you don’t have sufficient funds to buy everything the customers demand. Sales in retail shops tend to pick up during this period and most retailers will slow down on buying inventory because they presume that all items they wish to sell will already be in stock in their stores. However, many of these products often run out or may require reordering before new deliveries can arrive at their stores.
When increasing your inventory for the holidays there are some tips to better prepare your inventory.
1. Make Sure You Have Enough Inventory
It may sound simple but having an ample amount of inventory on hand can often be one of the biggest problems during the holidays. Inventory shortages are common at this time of year because retailers tend to purchase more goods than they would during the rest of the year. Inventory purchasing is often done based on previous holiday sales, but many businesses end up with too much inventory at this time. for holiday sales.
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2. Make Sure You Have Inventory That Customers Want
You don’t to have too many items left over because of having too much inventory on hand. Inventory that’s not selling is just taking up space and costing your business money in the long run. That being said, you don’t want to have an empty store, either. So how do you find that happy medium? Inventory purchasing during this time of year should be based upon consumer demand. Businesses should purchase items they know will sell or at least have a good chance of selling before Black Friday rolls around.
Time is of the essence since the season is already beginning. Progressive Business Capital can get you the cash you need in as little as 24 hours. Contact us to see if you can qualify to get the cash you need to not only handle additional inventory but also additional seasonal employees that may be needed to take care of the additional inventory stocking so regular employees can provide the best customer service to your customers.
