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| Article: Professionals: does it make sense for mind-body professionals to sell merchandise to offset seasonally lower revenues? - by Bernard Slede - NAMASTA | ||
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You would intuitively believe that allocating an area of your premises to sell merchandise like yoga mats, tai chi uniforms, T- shirts, books, etc. can be a great way to add to your revenues when revenues drop seasonally. In this article, we look at the challenges and offer a possible alternative to carrying your own inventory. Selling merchandise is an effort that should not be underestimated. Answer the following questions honestly and evaluate whether selling merchandise in your store is for you: - are the people in the reception area (or are you) skilled to sell products? - does your business license include retailing products? - how much does the merchandise space cost you (total square footage)? - are you comfortable with return policies, chargebacks, etc ? - how many requests for merchandise have you had in the past month? - how many units of XYZ can you realistically sell in the next month? - how will you be competitive with stores that sell similar products in your area? - what will you do with the unsold inventory? - how many hours of accounting work will managing this activity cost you? - If overall, you are comfortable with these questions, go ahead! We will be providing additional thoughts in upcoming issues of the NAMASTA Newsletter. If you would like to give it a try but don't want the hassles above, NAMASTA has identified a resource that can send your clients merchandise one unit at a time, without the need for you to carry inventory, and with your brand. This works great whether you own a studio, organize retreats or simply want to make extra money with your private or corporate clients. Explore how to design and sell your own merchandise without carrying inventory. (c) NAMASTA 2003 - reprints of this article in its entirety are allowed only with prior permission This article was originally published in the NAMASTA Newsletter, the official publication of the North American Studio Alliance. Click here to subscribe to the free NAMASTA Newsletter for Yoga, Tai Chi, Qigong or Pilates business activities. |
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Bernard Slede is co-founder of NAMASTA. |
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