Inventory Checklist
Our wise friend, Ciara Stockeland, often says "Inventory is cash on hangers and cash in boxes" and we agree! Inventory can get you into debt or get you out of debt, depending how you approach it.
Our mission is to empower you, as a boutique owner, to understand your numbers and get more peace and clarity in your life and business - so you can be a good steward in your business and make smart decisions that will increase profits. The majority of what you will own in your business is inventory and being a good steward of this asset is key by managing and tracking inventory.
Enter our new INVENTORY course in Boutique School. Ciara Stockeland, founder of The Boutique Workshop and our Certified Profit First Coach, is teaching our latest course in Boutique School and she breaks down some of the foundations of Inventory that boutique owners need to know. Bonus: A few videos from our Inventory Sales Tax Team so you don't miss a thing.
As a jumpstart, we created a quick checklist to prepare you in upleveling your inventory game!
Create an Open to Buy
Treat your inventory like cash & count inventory monthly
Record the cost of your inventory every time you receive it
Use your Balance Sheet to manage & track inventory
Pay yourself using Profit First for retail
Account for damages, losses, theft, returns & give these numbers to your bookkeeper
Without knowing your numbers, inventory is a mess. Instead of doing something you hate (or don't have time to do), you could have everything you need to know about your numbers delivered to your inbox monthly and have your very own dedicated bookkeeper on speed dial. If you haven't yet, we want to invite you today to fill out our form to get a free estimate + discover how we can support you.