Understanding the Value of Home Business Inventory Software
For many people, getting out of the day-to-day corporate business environment and starting their own business venture seems like nothing but a dream. But nowadays, running your own business while working from home is becoming a reality. It’s a challenging task to go out on your own and start a home-based business. You need to be self-motivated, passionate, and offer a product or service that customers want. But the good news is that there are many digital tools available for small business owners to help them run their business, including home business inventory software.
A Quick View Into the Home-Based Business
Mention home-based business and most people think of a multi-level marketing (MLM) operation, cake bakers or creative individuals who sell their wares on Etsy. But home-based businesses are at the heart of commercial activity, and far more numerous than most people imagine.
The Small Business Administration reports that around 50 percent of small businesses are home-based firms, including 60.1 percent of firms without paid employees. Sole proprietorships are by far the most common types of these businesses, according to the same data. Low overhead and a low or no commute to work are a large part of the attraction for starting a home business. For many home-based business owners, the need for a physical location doesn’t exist and working from home is the right environment for the business.
While often overlooked, home-based businesses and the opportunities they present are fueling entrepreneurship by eliminating many of the barriers to starting a small business.
Home Businesses That Carry Inventory
Many home-based businesses are carrying inventory of some type. From jewelry and clothing to cosmetics and home goods – no matter the product, you need a way to keep track and keep up with your items. Small businesses do not have extra cash readily available to constantly replace lost inventory or misplaced items that the owner needs for customer sales.
Having a way to scan and instantly upload data about your inventory into one central location has made the overall process of keeping up with inventory a breeze due in part to home business inventory software. Many software platforms come with built-in mobile scanners that can be used from owners’ own smartphones or tablets. So as inventory goes in and out, you have an accurate, real-time count of what’s moving. This enables owners to stay on top of inventory control, ordering more items as needed or realizing that they may not be needing as much of an item as originally thought.
Investing in Home Business Inventory Software
Home business inventory software is proving itself to be the partner that home-based businesses rely on each and every day. Spreadsheets are no longer an effective tool. They have to be updated manually, which is time-consuming and means the data is almost always out of date. Also, spreadsheets can’t scale with your business, communicate with your point of sales system (if you are using one), and don’t show how products are selling (i.e. keeping up with trends, seasonal, age groups, etc). Most importantly, home business inventory software makes owners accountable for how they manage and track their inventory. Guesswork, which can potentially destroy a business, becomes a thing of the past.
Other benefits of investing in home business inventory software include:
- Reduce costs, improve cash flow, and boost your business’s bottom line
- Keep track of your inventory in real time
- Help you forecast demand
- Prevent product shortages
- Prevent excess stock or too many raw materials
- Allow for easy inventory analysis on any device
- Accessibility to your point of sales system
- Offer quick and easy barcode scanning to speed up intake
- Allow for multilocation management (as your business grows), tracking inventory across several locations or warehouses
With Asset Panda, you get all of these features and more. Our powerful, yet simple to use software is powered by free mobile apps that sync with the cloud and includes a mobile barcode scanner. All you need to access the complete lifecycle of your home-based inventory is the smartphone and/or tablet you already carry. Track and manage your inventory any way you want by selecting from Asset Panda’s robust and completely customizable features list. This intuitive app grows and changes as your business grows and changes – and couldn’t be any easier for home-based businesses to use.
Learn more about how Asset Panda helps small businesses and take advantage of a free 14-trial by visiting www.assetpanda.com today.