SIZE OF INVENTORY

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jcm71

jcm71

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Just curious. I currently have around 90 pens I have made that I take to craft shows to sell. Is that a representative number of pens for the rank and file here? Also, how long do you guys try to sell a pen before putting it on sale or recategorizing as a gift for a disliked relative?

http://www.wellturnedpens.com

It just goes to show that wherever you go, there you are.
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One of my favorite stories: I made a desk pen from an antler end, with the tip, about 9" long. Used a cross kit and supported it with a block of cherry, and a funnel.

Sold in the first ten minutes it was on display---SO---I KNEW I HAD A WINNER!!!! Made another one!!!!

I dragged that pen around for 8 years before it finally sold.

My point--there is no such thing as a product that will NEVER sell, if you are willing to keep displaying it and keep TRYING to sell it. Your voice can stop it from selling, as can a "I'll discount this thing, since I have had it for so long"---nobody wants a product that nobody ELSE wanted!!
 
In the past if I sold a dozen Cigars at a show I'd go home and make two dozen Cigars for the next show. I'd go to the next show and sell 10 Jr Gents. So I'd go home and make a bunch of Jr Gents. The next show I'd sell 7 slimlines..... You get the picture. Now after a show I just make what didn't sell. :biggrin:
 
I figure if someone else wants one that bad they can request a special order which I have done. I had one bullet pen that I sold and next thing I know I have an order for 30 more. Go figure
 
I currently have approx. 270 pens in stock. I filled my inventory for a single show that was supposed to break the bank. I sold 12 pens. The good news is I don't have to turn at all to be ready for the Christmas rush. I leave a pen on the table and priced appropriately for years before I'll mark it down. I just wait until the right person finds the 'perfect' pen and then they'll pay full price for it.
 
I don't do too many shows, but when I go I try to have about 80-120 with me. The actual number depends on experience at that show, time of year, venue, etc. As far as "how long?" - I guess it depends on how much I like the pen. I have some non-sellers that I think are just gorgeous that I take everywhere. Then there are others that were nice "back then" but my ability has grown to the point that I can do better now (does that sound too pompous?).
 
Currently a little over 1200 in inventory. I expect to make a couple hundred more over the next 5-6 weeks and I hope to sell it down to about 400-500 by year end.

I make a large number of pens in the winter through mid-summer until the shows pick up, then inventory drops continuously until year end.
 
Great response and advice, guys. Thanks. Ted, I agree. I have several I was very proud of when I made them, and now....... Chaper, 1200 is awesome. How do you display them all?
 
Each pen has one person out there. The trick is getting them together. When I feel a low quality pen is holding the rest back I set it in a box. When there are ten I introduce them to ebay where people are surprised when they do not receive crap. I am not selling crap, just stuff I do not like anymore, so they have always been happy with what they receive. Prices are not the best but better than gift prices.
 
I never display them all at once, about 300 are on display and an equal amount in reserve. We do two shows many weekends so we need two sets of inventory. There is no time to replentish between shows. The only way to have enough is to build up a big inventory during the slower seasons.
 
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We try to keep a nice big inventory with several 'copies' of the best sellers. This way, you display just a couple of that cool pen at a time and replace it with a near identical one when it sells. My thinking is two-fold. First, an awesome pen that is seen as unique will sell faster than one that has half a dozen near copies sitting next to it. If for no other reason than because people may buy it thinking that it might be sold by the time they return to your booth. Second, some pens are super hot sellers. You can be reasonably assured that you might sell many of them. However, you don't want to use too much space to display these near identical pens because they will crowd out your other offerings.
 
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