Liquidating your retail store fixtures to get the best return during a store closing takes an organized plan and execution. Fixtures that teachers can use or would go nice in someone’s garage or home are the easiest to sell.
The first rule is that one person should handle all fixture sales. This makes it easier knowing what is for sale and reduces the chances of selling the same fixture twice.
When the person in charge of fixtures is not present, the other employees should get the customer’s name, phone number and what fixtures they are interested in. Make a simple form and leave plenty at the registers. There should be sheets made to list all the fixtures for sale.
The week before the liquidation sale is the best time to walk the retail store to list and priced fixtures. Labeling the fixtures will make it easier to find the price quickly when a customer shows interest.
The sheet should list the number of the fixture, description, selling price, quantity and a space to mark it being sold. It is best to keep this sheet in a binder near the front of the store or by the registers.
All fixtures sold should be listed in a receipt book with at least two copies. The label or dot should be marked sold. Do not allow the customer to pick up the fixture until it is cleared. I would make an effort quickly as possible to clear it, but do not destroy your store for them to take the fixture home on the spot if you still need it.
Do not wait until the end of the sale to allow customers to pick up all the fixtures, otherwise some people will not show up in time. Do not list any fixtures sold until you collect all the money from the customer. If they want to put a down payment, require the rest of the money quickly or you may never see them again and be stuck with that fixture.
In order to price retail store fixtures, you need to know the cost or what they are selling at other stores, eBay, Craigslist or anywhere else you can find them. The higher demand items, you can get 50-70% of cost, while many items sell for 33-50% of cost.
The best place to advertise your fixtures would be for store owner’s in the same industry. After that, you should place small classified ads in a large newspaper in the area.
I would also post this ad in Craigslist with pictures in nearby large cities especially on Fridays and Saturdays. Keep posting the fixture ads every two or three days in Craigslist.
As merchandise sells down, work all the empty retail store fixtures together in the back of the store. It would be wise to list the price also to save the person handling fixtures time.
In today’s business climate, If you try closing your store and any of these areas are done in a haphazard way, you can either lose thousands of dollars by selling off to quickly or not fast enough and in either case you lose money or have a great deal left at the end.