At the store and you can’t remember if 100k a good rank in Pets so you buy it anyway. How much will taxes eat into your profit? Ugh, math. When you get home you sit down to list the items. The receipts are so hard to read to find buy costs. Why didn’t you write down the price you wanted to list the items for? Now you have to research all over again!
Sourcing days are the best days! You breeze through the store scanning items in Scoutify. Your preset rank and profit margin settings help you leave duds behind and buy winners. Should you buy more of that replens? The sales history in Scoutify says yes! You head home relaxed and happy to import your buy list including list price, quantities, and buy costs.
You’re constantly toggling between multiple screens to list inventory and track costs. Printing 30 labels at a time means you can’t label as you list. You have to move mountains of product around as you try to find the specific label for each item. You end up making mistakes and having to redo the labels causing massive frustration.
You are excited to get another shipment off to FBA. Each time you confirm an item for listing a label prints. You don’t have to touch it more than once. Just label the item and put it in the box headed to the assigned warehouse.
You have sales but are you actually making any money? With so much in and out it is hard to know. You’re spending time manually calculating profit when you could be buying more product, but without knowing profit how do you know what to buy again? It is disheartening to work so hard and not know if you have anything to show for it.
Money, money, money! Seeing the sales roll in with all of your expenses and profit automatically calculated makes you feel like a real business owner. You review your numbers and have ideas on which products to replenish and how to cut expenses. Knowledge is such a powerful feeling.
You didn't see that you already had a pile of graduation balloons in your less than organized storeroom, and now you bought too many. How are you possibly going to sell them all before graduation season is over?
You check our system and learn exactly how many balloons you have on hand, what price you previously listed them at, and the cost per unit. Then you go to the store and purchase the exact amount you need, and you know if you're getting a good price.
April 15th is looming, and this 1099-K makes no sense to you. The accountant didn’t even know where to start. He just said to start entering all of your receipts into a spreadsheet and comb through bank statements to find all of your expenses. You are so stressed.
Feeling in control of your business never gets old. With reports that help guide your purchases and draw attention to areas of improvement, you are finding great success. Sure, it has been hard work, but with the right tools in place, this entrepreneur thing feels great.