Merchandising Flashcards
Revision of Basic Accounting - what is merch revenue & COGS
means the gross amount of money received from selling merch
COGs - Cost of Goods Sold, meaning it is the total actual cost to you for all the individual merchandise items that you have sold
What do Inventory costs involve?
Designing
creating
Manufacturing
transport to the place where you physically will sell it
What are stock sheets?
These detail the amount of stock that you had at the beginning of the night plus a detailed break up of the stock items sold, which then must reconcile to closing stock
What are you responsible for when doing merch yourself?
product choice design & manufacturing determining stock levels determining sizes organizing sellers transport of stock Storage Accounting Banking EFTPOS price points display set up venue liaison Website Online shop Marketing
How does a merch agreement work?
The way a merchandise agreement works is that you exclusively sign your Merch Rights to a Merch Company. They are responsible for all facets of the merch process. They manufacture & sell the merch & after costs are covered then split profits with you.
