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How to set up and run a vendor.

uome

Bug Hunter
How to set up and run a vendor.

I'm going to run through the basics of establishing, running and maintaining a vendor.

Getting a vendor.
You can get a vendor by renting one from another player or putting one on a property that you own. The first thing you'll need is one of the two deeds shown below. Which one depends on your situation.
To be able to use the deed the building you're putting the vendor on needs to be public. To set your house to public, double click on your house sign and chose the "security" button. There you will find a button for "change to public" You don't need to have your doors security set to public unless the vendors are inside.

vendor deeds.JPG

Putting up a vendor on your own house.
If you intend to put up a vendor on a property that you own first you'll need a "contract of employment" (Plain coloured) you can buy these from npc bankers.
Take your deed home and stand in the spot that you want the vendor to stand in. You have to do this with a character that is on the same account as the building. Double click the deed and a vendor will appear.
Once your vendor has appeared the best thing to do first is give them some gold to opperate by dropping it on thier head.
About 5k should do for now just to make sure they don't disappear. I'll go through vendor charges later. I'll also go through the menus and customising later.
A vendor on your own house can be maintained by any character that is on the same account as the building.

Renting a vendor from someone.
If you are renting a vendor from another player the first thing you'll see is a gump telling you of the terms of lease, rental price and rental duration etc.(shown below)
After accepting the terms you may want to give the vendor some gold to opperate with by dropping gold on thier head. About 5k should do for now, more on vendor charges later.
The next thing to do would be to single click the vendor and click "contract options". In the contract options gump(shown below) you'll see a bit towards the bottom where you can chose to set the contract to auto renew, if a contract is not set to auto renew by both parties they will disappear after the agreed contract length is over.
A rented vendor can only be maintained by the character who rented it not all characters on that account.

Renting out a vendor to someone else.
To rent a vendor to someone else (even to your own char on another account) you will need to purchase a "vendor rental deed" (Red coloured) from an npc banker.
The owner of the building where the vendors are going to be rented from will need to take the deed home and double click it, you are then asked to target the location that you wish to rent out. Once this is done the deed will look as if it is locked down. Double click the deed to set the rental terms.(shown below) The terms you can choose are rental price, duration and whether to auto renew the contract. If you want the rental to be free enter "0" in the rental price section. There is also an option to offer the contract to someone, when you chose this you can target the person you wish to rent the vendor to.
Once the new vendor appears single clicking the vendor will give you some options such as "contract options" or "collect rent".

vendor rental.JPG

Putting goods on your vendor.
Putting goods for sale on your vendor is fairly simple. Double click your vendor and you will see a gump,(shown below) click on the "see goods" option and a backpack will open. This is where you will put your goods for sale.
If you drop an item into the pack you'll be asked to enter a price and description for the item.
Not all items need a description just a price is enough. Enter the price you want to sell the item for and press enter. To enter a description for the item when you drop the item into the pack, enter the price then a "," then your description.
Some items can be put on your vendor as "not for sale" these items can be either containers or bod books. To put an item as "not for sale" just press esc. Alternatively you can drop one of these "not for sale" items on your vendor and just enter a description. So you might drop in an empty bag with a description with what that bags intended contents might be.
You'll notice the more items you put for sale the more money your vendor will need to opperate. This is covered in the vendor charges section.

Customising your vendor.
The first thing you might want to do is dress your vendor. Double click them and go to the "open paperdoll" option. This works in the same way as dressing yourself just drag and drop items to the paperdoll. Some items cannot be equipped due to the strength requirement not being met, sorry I have no idea what a vendors strength is. :eek:
When you double click your vendor you will also see "vendor name" and "shop name" To change these just click the appropriate button on the gump(shown below) and type in the new name. The vendor name is the one which will show when players walk by so you might want to use this to describe your goods. The shop name is the one that shows up second when you hover your cursor over the vendor, i'll let you use your imagination for this one.
Vendor and shop names are restricted to 20 characters.
Another option in the gump is to customise, here you can chose whether your vendor is male or female also thier hair and beard style and colour.

Turning your vendor.
If your vendor is facing the wrong way they can be turned. Stand outside the building, if you want the vendor to face east stand to thier east and chose the "customise" option.
You don't need to change any of the options just by bringing that gump up and closing it you will force them to turn to face you.

Vendor charges.
Your vendor needs money to be able to operate, these are seperate charges from the rental price. This isn't taken from your bank box, you will need to drop piles of gold onto your vendor.
The gump you see when you double click your vendor(shown below) will tell you how much the operating costs per day are and how many days the vendor is payed for.

Taken from stratics
The maintenance fee for a Vendor starts with 20 gp per 8 hours playing time. The minimum fee per real day is therefor 60 gp.
The more items you have for sale on your Vendor, the higher the maintenance fee will be.
For each 500 gp worth of merchandise the Vendor will charge 1 gp maintenance fee per 8 hours.
(Example: With a base fee of 20 gp and 5500 gp of merchandise for sale the Vendor will charge 20 + ((5500-500)/500) = 30 gp per 8 hours).

Collecting gold.
When double clicking your vendor in the gump that appears there is an option to "collect gold", just choose this option and type in the amount of gold you would like to withdraw.
Make sure you leave enough funds on your vendor to operate. The money is then sent to your bank box and is usually in cheque form unless it is a really small amount.

Dismissing your vendor.
Another option you'll find in your vendor gump is "dismiss vendor". If you just click this button your vendor will disappear and a backpack will drop to the ground containing all the vendors, goods, clothes and money it is holding.
It's advisable to collect the all the gold your vendor is holding and remove all the goods before dismissing. If your vendor has anything of value on its paperdoll you may want to undress them too before dismissing.

vendor gump.JPG

Getting back your goods from a dismissed vendor.
If your vendor has disappeared due to lack of operating funds or the contract has been terminated by the person leasing it to you then you may think all your goods and gold are gone, don't panic! If you go to the house the vendor was on and single click the house sign you should see two options, "vendors" and the one you'll need "reclaim vendor inventory"
Having never reclaimed an inventory i can't be 100% sure what happens when you click this but your goods, gold and vendors clothes will be returned to you.
I think if it will fit in your backpack it is sent there, if not check your bankbox.
The reclaim inventory has a time limit attached to it so collect it as soon as you can. If uncollected it ends up in the house owners moving crate.

Good advice for shopkeepers.
This is just some general advice about getting the best out of your vendor.
Always try and display your goods well and keep them stocked to attract repeat trade.
A good location is useful but not essential, you could gate your shop, do rune drops or just ask me for it to be included in the Vendor directory.
Dress your vendor to look attractive or to stand out from the crowd, if you have many vendors why not use a uniform for all of them or dress them to show what you sell.
Name your vendor with a good description of what you sell or just something eye catching.
If you have finished using your vendor, dismiss them. If you ever decide to use that spot for a vendor again people may be put off because they are used to seeing it empty.
For pricing your goods I find the best way is to run around and look at your competition. Price according to how much stock you have and how often you can stock it. Location and reputation may also be factors to consider when pricing.
You can't buy bods from a bod book unless you are next to the vendor so allow people good acess to your vendors.

Have fun and good luck :)
 
Re: How to set up and run a vendor.

Seriously,

Price according to how much stock you have and how often you can stock it.

This is a really, really basic strategy which many vendor owners often don't grasp right away. If you price your goods too high, and there is any competition, they won't sell - obviously.

But if you price them too low, they may sell like hot cakes - but then your vendor will be empty until you get round to hunting/crafting/mining enough to restock. During this time you will be losing both money and customers (how many times would you go back to an empty vendor?).

If you have 100 DP Kegs and you sell them all in three days at 50k each, you make 5Mil. But lets suppose you need 10 days before you can get round to pulling together the time and resources to make another hundred. When you restock after seven days empty, they will sell out again - but maybe this time in four days not three, because some customers already came back, found no kegs for sale and bought somewhere else. Then your vendor will stay empty again for another six days until you restock, when sales will be even slower (even at 50k/per)... etc etc etc.

On the other hand, suppose you sell your kegs at 70k. They don't sell quite so fast, but you will still sell them all in 10 days and you will have made 7Mil, rather than 5Mil. And more importantly, your vender will have remained stocked all the time, and your client base will gradually rise as more and more people realise that when they need a DP Keg fast - your vendor is the place to go. The next batch will sell a little faster, and you can choose whether to raise your prices a little to keep the balance, or up your crafting speed to fill demand. Either way, you will be making a reasonable profit on your time and keeping your customers happy....

That's what Fritz tells me, anyway... :eek:

FE
 

Aeolus

Sorceror
Re: How to set up and run a vendor.

Awesome post uome. I'm getting ready to open a shop and this post will really help me out.
 

uome

Bug Hunter
Re: How to set up and run a vendor.

Thanks Ler. :)
I have added i link to it in the house designs sticky. Often when you build a house you want a vendor so it seemed appropriate.
 
Just thought I'd repost some more useful advice for shopkeepers somewhere it may be useful:



Unlike RL, the business cycle on Demise is amazingly short, as Vendors come and go (or just run out of stock) from one day to the next.

This means that (for most products) there is very little steady competition from which to judge the market situation, and calibrating these short-term changes quickly and accurately enough to tweak your prices with every spike or trough is almost impossible, since we don't have any of the mechanisms used to do this IRL available on Demise.

Another major difference between RL economies and Demise is the huge proportion of "waste" items produced. Because the design of UO (and most other MMORPGs) involves keeping you interested by using tiered stimuli and rewards, the number of "nearly useless" items in-game (created either when someone gambles and loses or as a by-product in the production process of a more desirable item) is huge. These include 110 Powerscrolls, most weapons armour and jewels and Gargoyle Pickaxes for example.

Since no one likes to throw stuff away, these constantly flood the market, creating a situation where the supply is always going to outstrip demand. In this scenario, it just doesn't matter how low you price stuff - the difference in sales will be negligible. There are only a certain number of players who need a 110 Stealth scroll or a 1/1 23Luck Ring right now: at 1k or 10k or 100k. The irony is that these products account for about 90% of the stock of most Player Vendors on the shard.

So:

  • Sell desirable products
  • Ignore all competition that is not regularly stocked
  • To determine base prices, compare those of any long-running vendors selling the same range of items if they exist
  • Restock regularly
  • Accept that it may take months (or years) to establish a reputation and get a "feel" for market movements
  • Tweak your prices based on your own production/acquisition cycle (and try hard to keep that steady)*
  • Record your daily/weekly sales of each item type as well as your turnover and profit margens
  • In general, adjust your prices only if your turnover/profit falls outside the established parameters for a particular item**
  • Be aware of exceptional external factors which could affect your market or open a new one (bug fixes, loot bumps, events, etc)
Alternatively: throw up a vendor when you have some stuff to sell; dump everything on it at once; price lower than the competition; remove vendor when your stock runs out; rinse and repeat... ;)


FE


*Without going into too many details, your prices should be low enough so as to guarantee you are never stockpiling unsold items, but high enough that you never run out of whatever you are selling.

**For example, I now know that (as long as I take my own advice) Fritz should have an average daily turnover of between 2 and 4m gold. If I see that he is making less (or more) than this over an extended period of time, I look at sales of each item type and begin to consider fiddling with prices.



PS These are only common sense ideas based on my experience here on Demise. I'm not a businessman or an economist or anything related to sales or retail, nor do I have an especially good grasp of macro or micro economics IRL, so if you are an expert, feel free to correct anything really stupid I may have said. I'm happy to be blown out of the water if I learn something new... :p


PPS This thread still needs to be stickyed...
 

uome

Bug Hunter
I forgot to re-upload the pics for this one, so thanks FE for reminding me about this guide. I'll get round to it as soon as i can.
 
Oh wow I just saw this link on Feersum's siggy. This is great. I was honestly thinking of making books with all the details like this in it to pass out to my renters when they first start up because 90% of them have never rented a vendor and are clueless. This will keep me from doing that for now, lol. Thankies a lot. This is perfect.
 
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