The Biggest Reason Why Having A Lot of Inventory Is Important

PrettiBoneThoughts1 Comment

Although I did write a previous post that touches on this topic, I decided to leave the last and biggest advantage of having a lot of inventory out on purpose. I felt that this reason deserves its own post because this reason alone might change your perspective on inventory quantity. 


Some Important Thoughts

I see a lot of resellers out there touting that "quality is better than quantity". There's a HUGE problem with that statement because they're saying it as if the 2 is mutually exclusive. Let me state the obvious, you can have it both ways! Just because I have 7,000 active listings doesn't mean that most or all of them are low quality (price) items. As a matter of fact, only 30% of my inventory is on the low-end side. Put differently, just because someone has only a few listed items doesn't mean that they're high quality (price) items.

This leads me right onto my next point. For this to really work, please refrain from just selling low-priced or low-quality items that don't sell. I totally understand this happens for most of us in the beginning due to budgeting issues but raise your inventory standards over time. I personally just like to have a healthy blend of low, mid and high but I'm moving towards just the mid and high-end stuff by the end of the year.

I totally understand that the lack of storage is why most of us don't have inventory in the 1,000's. I'll be truthful, not having the proper storage for all of that inventory will make this concept difficult to relate to. As you grow as a reseller, please consider budgeting for an office, warehouse or some other place where you can hold a lot of inventory. I'm sorry I can't help you much here if storage is an issue.

You will also need an assistant to pick and ship but I know from experience that hiring help will help you grow your reselling business exponentially. Conversely, have a family member help out like I did!

Lastly, having consistent sales greatly ups the chances of this idea working but it isn't required. The important thing here is that your sales are enough on a monthly basis that it's paying whatever bills that need to get paid.


The Biggest Reason

Think about this, if you have a LOT of inventory that brings you consistent sales, what does that really mean? That means you can take as much time off as your sales would allow! Just look at it in terms of vacation hours, the same ones that you receive from the company you work/worked for.

Although I don't take much time off from work, I sleep well at night knowing that I can take about 17 months off of reselling before my inventory is depleted at the rate I'm selling.

THIS IS HUGE!!!

This is the biggest advantage of having a big inventory that provides consistent sales. For those people that have 300 pieces of "quality" pieces that look down on accounts like mine because of my inventory count, ask yourself if you can take 17 months off while still making the same amount of money. 

If I sound snobby, so be it. I just know that me busting my ass for 9 months straight is totally worth it when a 17-month vacation is the reward. When you've built up your "vacation hours" spend it how you want! Travel, blog, read or in my case, start a new business!

Funny thing is, however, is I haven't taken more than 1 day off from reselling in the past 9 months yet because I'm working on my FOREVER vacation.

 

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One Comment on “The Biggest Reason Why Having A Lot of Inventory Is Important”

  1. Thank you for the post.I was just trying to rationalize my need for increasing my inventory and this help me to answer several questions. ?

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