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When musicians approach your store with their creations, you may want to avoid the risk of unsold inventory. If their productions show promise, consider selling them on consignment instead. This eliminates upfront costs, as no payment is made until an item is sold. The software efficiently tracks the details, including the artist's information, product descriptions, and quantities. For additional security against potential returns, settlements can be deferred until the month after the sale occurs. To further protect your store's bottom line, encourage musicians to accept store credit in lieu of cash payments. Many stores provide a small bonus percentage for choosing this option, making it a win-win for both parties.
Whether you're buying instruments outright from individuals or purchasing stock from wholesalers, our software supports both models. 'Buy outright' refers to purchasing directly from individuals for resale, while 'retail' involves sourcing from suppliers, manufacturers, or wholesalers.
The software enables you to record and track the sources of merchandise, as well as manage your inventory from acquisition to sale. It includes robust point-of-sale (POS) functionality, offering tools for discount management, detailed sales receipts, and support for multiple payment methods, ensuring seamless transactions.
Layaway options are fully integrated into the software. Any sale can be set up as a layaway, with a flexible payment schedule created at the time of purchase. This feature gives customers more options, potentially increasing sales by catering to those who prefer to pay over time.
Another lucrative stream of income is equipment rentals. The program tracks renters, rental amounts, rental start and due dates, and can generate reports on overdue returns. Late fees can be applied automatically, ensuring that your rental business remains profitable and well-organized.
Fresh new inventory encourages repeat customer visits. Typically, shops selling on consignment might mark down asking prices to encourage sales and keep inventory turning over. Our software includes this feature, allowing variable discounts per category. A common schedule is to discount by 10% after 30 days on the shelf, then 20% after 60 days, ensuring items do not remain stagnant for too long. Unsold items at the end of a specified period (like 120 days) can be returned to owners, donated, or transferred to shop ownership.
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