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Help please. From Hobby to Business. How do I handle Inventory?

    • 107 posts
    June 30, 2010 9:05 PM EDT

    You need to know what inventory software & tagging systems stores are using before you start running your own store. It's good to be an apprentice when you are being paid to learn isn't it.

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    • 355 posts
    July 1, 2010 7:05 AM EDT

    To start with, you should be visiting second hand book stores in your area and note the following information:

    1. Pricing.  This involves more than just the price on the book.  For instance, how does the price differ for different copies of the same book?  How much more is the store charging for a copy that is in better condition so to speak?
    2. Categories.  Are books grouped according to category such as Mysteries, travel, etc.? You might want to set up your inventory by category and then list each book that fits into that category.
    3. Buy a book and see how the sales receipt is generated.  Is it hand written or computer generated?
    4. Do the stores use barcoding on the books or use some other means to identify the books in their inventory system?
    5. Then you need to think about the type of inventory software you will want to buy before you set up your inventory.  Very bad idea to set up an inventory system and then have to change over to another system because your first system didn’t meet your needs.

    You can contact me at culshaw@spcfreelance.com for additional information.

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    The older we get, the more excuses we make for not chasing after our dreams. But truth is, goals are attainable at any age.

    • 1 posts
    April 25, 2008 11:06 AM EDT
    Hello everyone - new to the forum but am excited to be here.

    I am converting my hobby (collecting books) to a business (selling books). How do I `convert` my collection of books into my start-up inventory? I do not have receipts for all the books and some were gifts or free. I`m just not sure how to translate this all into a start-up inventory. Do I assign a value and based on what? Does my business `buy` the inventory from me? As you can tell, I have no idea where to start so any help would be truly appreciated.

    Marjon





    • 3 posts
    April 27, 2008 2:38 PM EDT
    Hi Marjon,  glad to have you here.

    I am new too and your question about converting inventory really hit home.  I am starting a business  that will turn my hobbies (gemstone collecting and creating sterling silver and gold wire-wrap jewelry) into an online business.

    Just how do we convert inventory from personal to business assets??  Will be very interested in all of the advice and answers.

    Good luck to you,
    Patty

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    Patzer`s Jewels-N-Gems

    Fundraiser 1.0™ - Raise Up To $11 Million Dollars in Capital- Learn How!

    • 2 posts
    December 14, 2012 12:59 PM EST

    bby (collecting books) to a business (selling books). How do I `convert` my collection of books into my start-up inventory? I do not have receipts for all the books and some were gifts or free. I`m just not sure how to translate this all into a start-up inventory. Do I assign a value and based on what? Does my business `buy` the invento

    Abiballkleider

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