Best Ways to Manage a Handmade Good Store
Most handmade goods store owners in Singapore start as hobbyists. They love what they do, but they tend to ignore other things like marketing, inventory management and planning for the future of the business. As handmade crafts are becoming more popular among buyers in Singapore, handmade goods entrepreneurs should consider shifting from a hobbyist to business owner. By having your own handmade goods store, you can turn your interest into a profit-making business that can help you pursue other passions.
Below are the best ways to manage a handmade goods store:
Develop Systems and be Consistent
Systems help entrepreneurs to build structures and run activities efficiently. You can start by setting aside particular days of the week where you make only specific products. That way, you can organise activities such as raw material supply and other priorities instead of wasting time wondering what you will make next. You can also share it with your clients, allowing them to know what to expect and maybe even order in advance.
Embrace Tech-based Solutions
In today’s high tech and informed market, businesses have to embrace technology and smart solutions. You do not have to be a tech guru to use technology for your homemade goods store. To start off, you can consider using e-commerce platforms to use as your shop front. Owning a brick and mortar unit in Singapore may not be the most cost-efficient option to start up a business since shop units can come at extremely high costs that a start-up may not be able to support. Instead, the online platform makes a great platform for you to display your handmade goods professionally while running your operations at a lower cost. This way, you only need to find a space to store your goods and an area to work in. At Work+Store, work spaces starting from 85 sqft onwards are available across seven locations in Singapore to allow business owners to fulfil their orders while storing your merchandise in the same space. These work spaces allow owners to use a mobile application to remotely control the access to your unit, allowing you to grant access to your business partners even if you are not present. By making use of the technological services provided at Work+Store, you can easily manage your handmade goods store without worries while enjoying greater convenience.
You should also make use of the most basic mobile applications to propel your brand. Create a presence for your brand on social platforms like Instagram and Facebook and manage your inventory or point-of-sale with various mobile applications available today.
Simplify your Inventory
While you might be tempted to hold on to your old inventory, they may be accumulating too much space in your home. Make your inventory leaner by getting rid of products that no longer fit your brand today and use your resources more efficiently. However, things that are outdated today may again become trendy in the later months or years. If you are holding on to these materials for this reason, a good idea will be to store them in an external storage space and only access them when the time comes. At Work+Store, storage spaces come in a range of sizes from 6 sqft 625 sqft and are accessible 24/7. You can store these materials that are currently unused in a self-storage unit to ensure that your home or work space remains uncluttered while your treasured possessions remain safe.
Plan for the Long Haul
Have you ever taken time to look at your quarterly, semi-annual, or annual goals? Better still, when was the last time you looked at your 3-year or 5-year plan? If you cannot recall, then you had better do it now. The best way to predict the future is to plan it. As you plan for the long haul, remember to consider your inventory and how to manage it. The cheapest self-storage in Singapore can be a great way to cut on unnecessary costs and make your business more profitable.
While these pieces of information were not intended to overwhelm you, your handmade goods store might be in dire need of a change. If you do not start tackling these issues right away, you might be setting yourself up for losses. Write down a new goal for each month and search for options that can lower your operational costs. Work+Store’s innovative workspace allows budding businesses to save costs by having a comprehensive storage and workspace solution. Apart from being able to cut unnecessary costs like transportation, businesses can also benefit from the security features like CCTV cameras and private 24-hour key card access to their unit. Unlike many other companies offering the same services, Work+Store offers a flexible lease term with a minimum period of only one month, ensuring that our tenants will not be tied down if they are unable to sustain their business.
It is important to account for changes in your business and have the flexibility of your working space to accommodate for it. Depending on the performance of your business, you could be experiencing an upsizing or downsizing of your work or even experience the need to change your working location. At Work+Store, you have the option to switch between different storage and work space sizes and locations across Singapore to cater to these changing needs without incurring high costs. These is especially important for a growing business with a need to spend funds on other areas of your business.
If you wish to find out more about Work + Store and our other storage options, feel free to contact us at 6578 9966 or email us at email@example.com for more information!