Money Management Tips for Avon Reps
Hi friends! Jessica here! Today, I wanted to share with you some Money Management Tips for Avon reps… that I think might be helpful!
Choose the Avon Starter Kit That Fits in Your Budget!
There currently are 3 starter kits, $25, $50 or $100. Yes, the $100 starter kit comes with an amazing and beautiful bag.. but don’t strap yourself for cash. The products are amazing in all of the kits and they each give you everything you need for your first month.
To check out what is in each starter kit, watch my What’s in the Avon Starter Kit 2018 Video or go to StartAvon.com and enter reference code JZUMBUSCH
Keep Track of Personal Purchases
The First of My Money Management Tips for Avon Reps is to BE AWARE OF WHAT YOU ARE BUYING FOR YOURSELF!
I see too often when my team members are taking advantage of their representative discount (which is great)… but they are buying more than their selling, then believe that Avon isn’t fair because they OWE Avon money. I highly encourage you to write yourself out a receipt or print yourself out an invoice, so that you know how much you are buying for your own products. Remember: most of us are in this business to make money, not spend it! So practice some self discipline!
Open a Business Bank Account
The next in line of my Money Management Tips I have is set up a separate bank account just for your Avon business. It is really important to keep your business money separate from your personal money! Plus, when you get earnings direct deposited into your bank account, it’s much easier to see how much you’re actually earning. I like to get a money bag from my bank and keep all of my customer payments, checks and my receipt book in here. I also have a square reader to accept credit cards. Don’t make the mistake of losing a customer check, like I have!
Don’t Have A Lot of Inventory
Third in my Money Management Tips is don’t buy a ton of inventory! I only buy what my customers orders every campaign. Yes, occasionally, I will get a few extra Skin So Soft oils, Bug Guards, Mascaras or eyeliners but I find that whenever I order inventory to keep on hand, it doesn’t sell! First, find what your customers are currently ordering and then maybe think about keeping 1 or 2 on hand. But please, please don’t order lots of inventory.
Along with stocking up on inventory samples are great! However, you don’t want to wind up spending more than you’re making. I suggest looking at the specials and deals on samples that Avon offers in our What’s New Demo brochures. For example, we can currently get 53 fragrance samples for only $6.49. That’s a wonderful deal! Another tip, is don’t just place these samples in your customer bags… be intentional about your samples. Give them to your customers that like fragrance and follow up after you hand these out. Ask “What did you think of the sample I left in your bag? Did you try it? What did you think of it?”
There are a few business expenses like our shipping (one simple fee) and the cost of brochures.. These are easily made up for when you’re actually selling to customers. I often hear concerns of new representatives or people who are interested in joining Avon that they are worried about the business fees. Our one simple fee is $6-$16 depending on your order size) and the cost of our brochures. One way to make sure that you’re not spending more than you’re making in this business is to help offset your business costs. Avon recommends we charge our customers 75 cents for every customer order. So, when you have 10 customers that order, that will completely cover your costs.
Some reps charge their customers $1.. some don’t charge at all. I just tell my customers that this is a processing fee and it helps offset the cost of my shipping, the brochures and driving to deliver their orders. I have never ONCE had a customer complain or question my business decision.
Take Advantage of Avon’s Free Resources
Last tip, is to take advantage of the free resources Avon offers to us representatives. Our online stores are free for us representatives, some direct sales companies have you pay a fee for your online store. Ours is free! And customers get free shipping on our online stores when they have orders of $40 or more. We also have a free site that helps us track our team and team’s activity.
Avon has incentives often that we can earn free products or items to promote our business.
Did you know you can get free business cards? You just need to pay shipping! Go to: YourAvon and click on “Web Office then “Avon Advantage” and then “Town & Country”. Another option is to order business cards on Vistaprint.com
I Am Here For You!
As your leader and mentor, I LOVE giving you business tools and samples to move your business forward. I offer many opportunities for you to get free stuff, so take me up on my offer! My office is filled with lots samples, business tools, recruiting flyers.. it’s taking over my office and I truly need to get rid of them!
I hope this helps you! If you aren’t an Avon rep yet and would like to get started, I put a link down below, so click it and let’s get you going!
That’s it for today! I’ll talk to you soon!