I am not sure but I believe there is an old saying that goes something like this, “There is a time for all seasons.” Why do I write on this today, you must be asking. The reason is to point out a clue that may make it easier for you to succeed.
We are creatures of habit, so when the Christmas season descends on us, we begin to look for Christmas items to purchase. At this time of year, we are often willing to pay more for those items than at any other time, and this may be a mistake. If we wait to buy those items in their seasons, we will find our margin of profit diminished. The time to buy Christmas treasures is in the middle of the summer when their prices will be the cheapest, and it is the same with all other seasons. “Daryle, you have told us to turn our inventory as quickly as possible, isn’t that right?” Yes I have, but let me explain how this will be taking place, even if you are holding merchandise for a few months.
How many seasons can you list? There’s calendar seasons, with winter that contains Christmas, spring that makes you think of love, summer with its travel dreams and fall that may make you think of Thanksgiving. Each of these seasons has treasures associated with them. The season of winter with Christmas brings to mind Santa, angels, elves, reindeer and gifts. Spring is for lovers, new life, flowers and religious holidays. Summer is for sports, travel, fishing and painting. But we don’t want to leave out fall that has its own set of items associated with it. Are you getting the idea that buying items for resale continues in a circle each year, so if you are buying something out of season, you are also selling items that you have in your inventory from a different season.
I will give you an example of what I am talking about. During the summer, I could buy Hummel angel figurines for practically nothing, but now I find these same figurines on eBay for hundreds of dollars, so when would have been the proper time to buy them? This same principle will apply to each season and, as you fill your inventory pipelines, there will always be things in season that you will be selling.
The most important thing to keep in mind for all of you who have read my book (and if you haven’t, you should) is to turn your inventory at least four times a year or every three months. Isn’t that strange? It coincides with the seasons. So you see, if you follow the seasons, you will be following our original plan and that will qualify as turning your inventory quickly enough.
Let’s not get too far from the plan that we set for our success.
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