How to Store Inventory for an Online Store
Living in our fast-paced, technologically driven world has led to a surge in Internet-based stores. Instead of having to spend precious time driving to various physical storefronts, people can shop leisurely from the comfort of their home or during a tedious commute. Savvy sellers have picked up on this trend, and business is booming for online retailers in the field of eCommerce. There are a lot of companies out there who will sell their products to you at a reduced rate, so that you can sell them to the general public at a retail price, and keep the profit. But before diving into setting up your own retail store, you need to consider the nuts and bolts of running a retail business, including how to store the items you decide to sell.
Storing Inventory at Home
A good first option for storing your store’s inventory is to keep it within your own home or place of business, if you have one. Buying goods at a wholesale price and then selling them to the public is a very popular route for eCommerce, but might require you to purchase things in bulk depending on the company. If your inventory is primarily small items, such as jewelry pieces or even coffee, it might be easy to store them in bulk at home. Other large items may take up too much space, and might require other methods described below.
Having Someone Store and Ship for You
A good option if you are lacking in your own storage space is dropshipping eCommerce. In this case the profit is still usually the difference between what the company charges for wholesale goods, and what price you sell the goods for. In some cases, profits may be an agreed upon commission. When you engage in this business model, you do not physically handle the items you are selling. Instead, you sell them online, and the orders are given to the original company, who then ship the items to the buyers.
Renting Storage Space
If you do not have room in your home or business to store your online shop’s inventory, and you want to still handle physical goods yourself, another option is to rent a storage space. There are a lot of storage facilities in major cities that offer storage units that allow you to come and access them at your leisure. Some facilities even include security systems to protect the contents of the units, as well as climate control, which is handy if your store’s inventory is temperature sensitive or perishable like food goods.
Whether you choose to store your items at home; have someone store and fulfill orders for you; or rent a storage space; the way you keep your inventory can have a big impact and influence on the way your online business operates. Looking into several options for where you are going to keep your goods before they are shipped to your customers, such as those described here, is a wise business move.