Businesses can sell just about everything, from services to products and more. If you’re considering selling products, here are a few things to bear in mind.
Businesses can sell just about everything these days, from services to digital products, experiences, memberships and much more. However selling physical items is still popular, and if you’re the kind of company that sells products then chances are you’ve noticed that there are a few problems with doing so. If you’re considering establishing a business that sells products, here are a few things to bear in mind.
Manufacturing Your Own or Outsourcing?
Whether it’s clothes, homewares, technology or something else entirely, your first consideration should be whether you will be making these things yourself or outsourcing to a third party company. Outsourcing is cheaper up front, you don’t need to worry about staffing, health and safety or other issues like that as it will all be dealt with by the other company. However you will be charged a fee of course, and this can cut into your profits. Making your own gives you full control over your items and business in general. It will mean a lot of money up front though, on things like premises, equipment, materials, hiring staff and much more. Don’t overlook the smaller details too, for example you’ll need a pipeline strainer from ISC Sales to ensure your plumbing and pipes stay clear and efficient. You will need to consider health and safety, maintenance costs and much more. Spend some time deciding whether manufacturing yourself or outsourcing is right for you.
Storing Your Stock
Whether you choose to stay in house with your manufacturing, outsource or buy from a wholesaler, you will need a place to store your items. This isn’t something that lots of other businesses will have to worry about, for example when you’re selling services then you don’t need storage space. However for a business like yours, it can be an issue. You need enough space to store enough products so that you’re not constantly running out of stock and waiting on deliveries from the supplier. You will need enough space so that everything can be efficiently organized. You should also have a returns area too, a place where things can be repackaged and re-sold (if they’re still sellable) when they’re returned by customers. Bear in mind the cost of warehouse space like this, and when you’re choosing your premises make sure it has good transport links. Something accessible and easy to get to and from is ideal.
Finally, when you sell physical items you need an efficient way to deliver them to your customer’s homes. Some items can be sent via postage services, providing they don’t contain prohibited items. You will need to check the extensive list before considering this as an option. Using a delivery company is your other choice, find one with the best reviews so that shipping isn’t letting down your customers. Some delivery companies offer a range of services, for example tracking on a map, sending a text before delivery is due and the ability to rearrange or reschedule the delivery right up until the time that it’s delivered.