As spring arrives and concert season is upon us, many production companies find they need to replace older equipment with new, in order to have a profitable summer season. To keep cash flowing, these older items must go.
As you well know, the bulk of all production equipment for touring is purchased between the months of April and June. Inventory management is one of the keys to running a successful production company. Money and space must be made available for new equipment purchases and slow moving and out-of-season gear is one way to free up some cash. GearSource® is a great resource for clearing out your aging or unwanted equipment and putting cash in your pocket for future purchases.
3 Necessary Spring Cleaning Tips:
- IDENTIFY A PROCESS
Getting organized is only step one; Having an accurate record of all highly utilized equipment and moving the rest is the first place to start. Generate a spreadsheet of all slow moving or under-utilized equipment, with quantity available, a clear description and price. GearSource® can help you set up a process to easily add this gear to the website for sale. When next spring rolls around, you could be looking at less stock to clean and more cash in your pocket.
2) GET RID OF WHAT YOU DON’T NEED
As a rule of thumb, equipment that has less than a 30% utilization, based on a one week rental rate, is something you want to consider selling and only sub-renting that equipment as needed. Also, equipment that is physically large in size, has a large hidden cost of storage due to the square footage it consumes.
3) GET IN TOUCH WITH THE RIGHT RESOURCES
Concentrate on the things that matter most to you and your business and let GearSource® get your pre-owned equipment out into the production marketplace. As your partner, we are able to assist you in coming up with a realistic pricing structure.
Overall, spring cleaning is about a clean slate and a fresh start and GearSource® will help you sweep up some cash you didn’t realize you had.
CONTACT GEARSOURCE® ABOUT ALL YOUR SPRING CLEANING NEEDS
GearSource® are used gear professionals. If you would like news related information, gear tips and the hottest news in moving gear, click this link to receive our quarterly news feed or contact one of our professionals at www.gearsource.com. You can also call us direct at +1.866.669.4327 (GEAR) or e-mail our Listings Team at firstname.lastname@example.org. We look forward to helping you with all your inventory needs.