Have you ever wondered how the merchandise business works? Watch this cartoon about how we use technology to optimize an artist’s merchandise business.
A successful strategy to manage merchandise is to plan the assortment and manage the inventory against a merchandise plan. One of our key strengths lies in our production and logistics management of tour inventory. Our bespoke inventory management system allows us to keep track of stock levels and to project when and where more goods will be required while you’re out on the road. Oh, and we make sure that they get there too, in an efficient and cost-effective manner.
We are equipped to take care of all production decisions, including financing. When we have been involved in the planning stages of a tour’s merchandise plan we’ve successfully maximized sales results and maintained inventory efficiency without our clients having to invest any of their own cash in the merchandising operations.
We have developed systems and tools to facilitate the job of the merchandise manager while on the road. We provide the tools – daily reconciliation sheets, cash ledger and inventory updates – along with the training for a responsible member of the team who will be our main contact for all things “merch”. In addition to these tools, we have developed specialized systems that enable the seller to do their job efficiently and in an organized manner.
FINANCIAL MANAGEMENT AND REPORTING
We take care of all cash management and procurement of goods for both touring and online sales. We track expenses and production costs in order to provide you with detailed and accurate records of your finances and inventory. At the end of a tour we provide you with a detailed report that summarizes the financial results, including a Profit and Loss statement, Cash statement and sales/inventory summary.
Our online sales management provides on-demand sales history, monthly royalty/account statements and a live inventory snapshot.
Of significant importance to our entire process is the collection and storage of all sales information, whether it is on the road or online. We accumulate this data and use it to analyze the various facets of your business, allowing us to make sound decisions on how best to invest in the merchandise.