Business Inventory - How much is Enough?

[Victor001]

Planning and preparing are the more vital ingredients for business growth, money is essential but not the reliable asset to boost the business growth. Management is the watch word.

When you are starting the business, you are not aware of the inventory. You are speculating the amount that you want to sell. You are going to be testing the waters initially instead of overspending on the inventory. It is hard to gauge how much is enough and how long you can keep the stock.

So on that note, I want to know how much inventory we should keep in our business?

 

[Tiana]

Well it depends on the type of business you venturing into.
You should also seek the advise of those who have been there before for proper information so you do not overspend and remember to start small.

 

[Setho]

Not all kinds of businesses are sensitive to that kind of detail and so you shouldn't even bother unless your business is one that so much needs it. You can just ask around for opinions, compare with your cost of production of the products and the prices by your competitors.

 

[Psalmseen]

The cost to be incurred on the inventory depends on the kinda business you're going into..if you wanna start a business, determine if inventory the Major focal is the tittles

 

[Nurudeen]

I think the inventory you will need will definitely depend on the type of business you are going to. You can't compare the inventory of car wash Business to inventory of mobile phone accessories Business so you need to know more about the business you are going into to know the inventory

 

[Damscooguns73]

Concerning how much is enough for a business inventory. Well, I believe the business capital is dependent on what size of business proposed at heart . Not all business are Capital incentive, so an individual needs to plan well before going into any business n

 

[Setfragil]

The amount of inventory you need depends on the size of your company. The type of the business also goes a long a way in determining the inventory that would be enough to keep the business on it feet.

 

[Setho]

Really how many businesses of today really needed an inventory before they got started, though it is good, it is only more feasible if the business is large so I advice that you focus more on other important aspects of the business.

 

[Bousine123]

When you are starting the business, you are not aware of the inventory. You are speculating the amount that you want to sell. You are going to be testing the waters initially instead of overspending on the inventory. It is hard to gauge how much is enough and how long you can keep the stock.

So on that note, I want to know how much inventory we should keep in our business?

The answer to this question will depend on the type of business you are referring to. For grocery stores that I know off, you should budget around $1,000 for a start.

 

[Senator]

It really depends on the field you are on, the capital you will need to start a car selling business will be different for a bottle water business. In any case, it's always advisable to start small and start with whatever you have.

You are very correct. Different business types demands different strategy and inventory allocation amounts for such testing outs. He will have to let us know the exact business he's talking about

 

[Mostee501]

The best way of knowing how much to keep is by making price researches on they products you're looking at and keep extra bucks in case of inflation at the time of buying.

 

[Yusuf1]

I think you can only know the kind of inventory to use in a business based on how big the business will be. If you want to make it big or small you will be the one to make the decision yourself

 

[Ceeny007]

As a business owner and someone who did his feasibility studies before starting the business, you should have estimated the sales you'd make in a day,and have a fair volume of inventory to avoid disappointing customer

 

[Richard92]

It all depends on the type of business you are about to invest in and also how you want your business to look like. You can predict a specific amount

This all depends on the kind of business inventory you want to start up and this may determine the amount of money that may be involved.

 

[Senator]

With a proper plan on ground before starting upmany business outfit or enterprise, this kind of situations wouldn't be something that you would ever be worrying yourself over because you must have gotten things in control because of your plan on ground

 

[Setho]

The business inventory is generally being created so that you can be able to have a list of everything you're going to sell at a price and how much you bought it to keep record.

 

[Lens]

The inventory is always difficult to determine at the start of the business. It would be calculated accurately when the business is in operation. The amount of stocks also depends on the size and the type of business. The turnover of the business is another determining factor. All these could be use to estimate inventory.

 

[Chizfab]

First carry out a market survey on your product or service before you can make that decision. Hope we all know that we price our products and services based on market cost base, Cost price base and value cost base. Just find out the one your business falls under and that little piece of information will fetch you your answers.

 

[eLdavis]

I think what would really help out is if you set not just a budget but also a target. If I should put in this particular amount, this is what I hope to gain or this is what I plan to achieve.

 

[Ezekiel]

Business inventory,no matter how small it is,it will sure consume reasonable amount of money,the range of the money will then depend on if it is large or small call business,but I don't think there is any concluded price for business inventory