What is a Manifest and why does it matter?
You have seen us talking about liquidation manifest telling you how and where to find it in the Honcho Wholesale Website. Sure, some people are just too busy enough to even read those tedious spreadsheet that’s filled with data. Read this blog to understand a Honcho Manifest.
But really, this simple spreadsheet can save you time and effort once you list the items on your online store. You might think that a manifest is just another simple list of products inside your box, but there’s more to that than meets the eye. Let us help you understand why you should pay attention to the manifest.
1. Contains all Essential Data of your Wholesale Box.
First of all, the manifest contains how many products you will be getting from a liquidation lot. It’s basically a detailed list containing the size, brand, color, and market price. Rummaging through each and every product that you just ordered will take forever, not to mention the margin of error that you might just commit such as typographical errors especially when reading prices. When buying a wholesale lot with a manifest, your supplier basically saves you a lot of time encoding all essential data from the order.
2. Helps you strategize in pricing.
Since the manifest already has the manufacturer’s suggested retail price of each item, you can strategize in advance on how much profit you want to add on each product. Ou can see the original selling price of each product so you can experiment on your pricing strategy.
TIP: If your supplier has a manifest in a Spreadsheet or Excel format that you cannot edit, simply copy and paste the manifest’s text on to a new spreadsheet or Excel document. That way you can easily edit and test out different pricing options that you want. This is also a good technique to properly record profits that you’ve made from each item.
3. Shows you what’s inside without even buying them.
Ever heard of an unmanifested pallet? It’s basically like buying a mystery box because you don’t know what’s inside! You simply just purchase a product from a category, say a clothing pallet. If a clothing pallet is an unmanifested one, you won’t know what brands are included, what sizes there are, how many pieces, if they are all just pants, blouses, skirts? You have no idea.
With a manifest, you won’t have to guess what’s inside each pallet that you purchase. This way, you can easily have an idea of what fits your current inventory. Even though an unmanifested pallet can be a lot cheaper, the burden of handling possible damages and manually encoding each product’s information will be handed over to the reseller.