The summer is now upon us, apparently. This means that there are lots of fetes, festivals, open days, garden parties, fayres and outdoor events taking place. If you are exhibiting at a festival or have a stand at a festival you need to make sure that you not only have the enough stock. You also need to make sure that your stock is effectively managed.
Drink, as well as food, can generate a significant income. This is why it is essential that you manage your wet stock at festivals. This can be tricky as the management of wet stock at festival can be unusual and in temporary surroundings.
When managing your wet stock at festivals you need to think about how many bars and food operations there will be at the event. Have a look at what they are offering and for what price. You should then be able to estimate how much wet stock you need. You’ll also be able to decide what wet stock you need and the price you will sell it for.
Have a think about how much wet stock you will take to the festival with you and how you will store it. It may not be possible to keep high stock levels on site and if you can, how will you keep them cool? Are there opportunities for you to restock from your cellar? You also need to ensure there are secure and lockable storage spaces for excess stock.
Another thing to consider when managing your wet stock at festivals is staffing needs. Will you take staff members from your bar or restaurant, or will you use temporary staff. If so you will need to consider how trained they are, when you can train them and how they can use the till or if they need support pouring drinks.
At a festival there is a higher risk of wastage and also theft. Consider how you will manage this during the event. You will also need to consider how you will manage the sales and stock reporting as well as the stock itself.
If you are attending a festival to sell wet stock we would highly recommend you speak to an experienced and highly skilled stocktaker. They can help you manage your wet stock effectively, and ensure that your gross profit is maximised.