How do I check an outdoor gear store’s seasonal buying plan and open orders?
Ask for the buying plan for the coming season and a list of every purchase order not yet delivered. Compare the plan with what sold in past seasons, and find out which orders are cancellable. Open orders become your obligations the day you take over, so you need to see them all before you commit.
Start by asking how the buyer builds the plan. Is it based on last year’s sell-through, vendor suggestions or gut feel? The best answer includes a record of what sold, what was marked down and what was left over. Ask for those records and read them against the plan.
Then go through the open orders one by one. For each, note the supplier, the delivery window, the terms and whether it can still be changed. Pay attention to orders placed early to secure a discount, because those are the hardest to undo. Ask whether any are special orders for customers, which belong to a different category.
Look at timing too. Gear arrives well ahead of the season it is meant for, so cash can be tied up for months. Ask how the store has paid for early deliveries, and what the bank or suppliers expect. Finally, ask who the buyer is. If the person who builds the plan is the seller, you will need their help through at least one buying cycle. If the seller keeps a spreadsheet of the plan, ask to see earlier versions. They show how the buyer adjusts when a trend changes, and how many surprises came up along the way. A buyer who learns from last season’s mistakes is a real asset to the store.
Key takeaways
- Compare the buying plan with real past sales, markdowns and leftovers.
- List every open order with its supplier, delivery window and cancellation terms.
- Plan to learn the buying cycle from the seller, not from the files alone.
Related reading
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Selling
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Due diligence
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentWhat is inventory
- 02Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
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