THE BUYING
POWER
One of the most important aspects of opening your own
retail store is learning how to buy inventory. We would like to take a
few minutes of your time to explain the buying process.
First, it is important for you to know Liberty Opportunities,
Inc. does not own a retail warehouse and that is to your benefit. If we
owned the merchandise that you will be buying and reordering, we might
tend to push only the items we sold, thereby limiting the selection from
which you have to choose. Our firm belief is that you and your new store
need as many suppliers of good merchandise as possible.
Liberty Opportunities, Inc. has spent years developing
contacts and suppliers around the country to provide the inventory needs
of the stores we open. If you decide to join our team, you will be put
in contact with these suppliers. As a team of hundreds of stores, we can
demand and get the best of service and prices from our suppliers. If a
supplier doesn't live up to our high standards, we take them off our approved
supplier list. It's as simple as that. There are perhaps thousands of
suppliers you could take a chance and purchase from, but not all of them
meet our strict qualifications.
During your initial buying trip, a trained professional
buyer will assist you to purchase your entire beginning inventory. Although
our buyers will recommend what merchandise to purchase, you and you alone
will have the final say-so on the merchandise chosen for your store.
While on your buying trip, you will be given a thorough
understanding of the buying process. For instance, you will be taught
how to plan an “open-to-buy”, who to call for special items, etc. You
will also be given a Buyers Guide that will give you detailed instructions
on how and where to buy once it is time for you to begin buying on your
own.
After you open your store, it will be time for you to
begin re-ordering. This is the area that concerns people the most. It
shouldn't. First, the concern most people have is “how will I know what
to re-order?” Believe us, there is someone out there who will tell you
exactly what to re-order-YOUR CUSTOMERS. We have a theory here at Liberty
that has proven right on target. We believe your initial opening inventory
should be broad but not deep. That means that you should have as broad
a variety of merchandise as possible, with not too much depth in any one
area. This way, you can't be hurt drastically if you happen to buy a couple
slow movers. With a broad opening inventory, your customers will get a
lot of styles and brands to choose from. By their actual purchases, you
will get your answer on what areas to re-order in, and what areas to cut
back in.
Secondly, you may be concerned about re-ordering over
the telephone. You shouldn't be . You will be assigned a sales representative
at each warehouse that will personally handle your specials, new brands,
trends in the market, etc. Most of our suppliers have extremely liberal
return policies for new stores. If you receive some merchandise that you
feel is just not right for your store, many of our suppliers will allow
you to return this merchandise. On the other hand, they may first suggest
you put it out on the selling floor for a few days to see if it will sell.
Remember, just because you don't like something it doesn't mean your customer
will feel the same. You may also visit these warehouses whenever you wish.
Thirdly, you may be concerned about where to reorder.
You shouldn't be . Every supplier we have will be introduced to you through
a fact sheet on their company. This fact sheet will give you your salesperson's
name, telephone number, and the pertinent data on their company. For instance,
this sheet will tell you what type of merchandise the company specializes
in, return policies, etc. Some of our suppliers send flyers, pictures
or samples to you prior to your re-ordering.
And remember, if you ever have a problem in any of these
areas; please call us on our toll free number. We can and will be of help.
Call 1-800-443-8407 to start your Gift store today!
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