Talking Cents

How to cash in on excess inventory, by small business accountants in Sydney

Excess inventory can be a financial drag for some businesses, so knowing how to get rid of it and make a profit from it is a bonus. Our small business accountants in Sydney will tell you how to cash in on your excess inventory.

Some sure ways for your business to make money on excess inventory include:

• Sell it to an inventory liquidator: they will initially buy your excess inventory and then sell if for a discounted price, when looking at this option you need to make sure you know how much your inventory is actually worth before going into negotiation to ensure you don’t lose money
• Bulk Purchase discounts: this will help motivate customers to buy more than product or service by offering “two for one”
• Start bundling: it is similar to bulk purchase, rather you gather several products or services and sell them for an overall discount
• Excess inventory into gifts: if all else fails, your excess inventory can be used as gifts to customers and business partners who reference your business

Before you start any process to cash in on your inventory it is a smart idea to contact a small business accountant who can guide you and help you choose the best option.

Our small business accountants in Sydney are always ready and willing to help!