How to Liquidate a Retail Business

How to Liquidate a Retail Business

The key to a successful liquidation sale is following a plan of action that will create a shopping frenzy and keep the momentum going. Unfortunately, most owners managing their sale takes many more weeks, a lower rate of return and more leftover in merchandise and fixtures. Most store owners with an inventory cost of $100,000 or more would get a higher return after expenses with a professional liquidation company and a lot less stress. You only get one chance to have a store closing sale, and if the liquidation goes badly, it will be your final business mistake.

The key to selling fixtures is to have only one person handle it. Otherwise, items will be double sold. If the person in charge of fixtures is not there, have the customer fill a form with contact info and what they are interested.

As for pricing, I research Craigslist and eBay, but the best source for me is knowing the selling price from previous sales. One thing to consider depending on the item, you may need to be a little cheaper because of your time frame during the store closing sale.
If I cannot find any information on an item, generally go 25-50% of the cost. The more an item can be used in a house such as a bookcase, glass shelving, etc., the higher price you can get.

Lozier shelving pricing varies depending on the market and condition of the shelves. I sell a four section with base shelf for $25-$35 and $5 for each shelf. Longer units are harder to sell, so I give a discount on those.
Fees based on performance and have a small business like you maximize your retail store closing sale.

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