Coaching Business by Entrepreneur magazine

Author:Entrepreneur magazine
Language: eng
Format: epub
Publisher: Entrepreneur Press
Published: 2011-03-09T16:00:00+00:00

planned inventory $25,000

plus planned sales +$25,000

equals $50,000

less actual inventory -$27,000

less stock on order -$13,000

equals open-to-buy $10,000

Most seasonal retailers calculate their open-to-buy seasonally to accommodate variations in the type of merchandise they sell and seasonal sales fluctuations. Instead of figuring open-to-buy in dollars, some retailers approach trade shows and other merchandise sources with a list of what they need to fill out their inventories and meet sales projections. But whether they work with dollars or by unit, experienced retailers recommend that the owner of a seasonal business should feel free to go beyond the budget or use less than the entire open-to-buy amount. In fact, you should leave room for unanticipated items.

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