Just because you’re closing shop doesn’t mean you want to forget completely about trying to create profit from this event.
After all, it will be one of your very last opportunities to earn revenue from your business.
The reason many people turn to us as a store closing sales consultant is because we’ve done this hundreds of times, whereas most store owners have never done a single closing event.
We have the experience.
After all, it’s a specialty event, very different from day to day retail, and it requires a specialty skillset.
Here are some of the benefits of working with Silverman Consulting vs. trying to handle your store closing sale on your own.
1. Getting People In The Door
Closing sale events require serious strategizing, and a successfully timed and executed marketing plan that supports the closing event and generates more foot traffic than you’ve seen in years.
Leveraging a store closing to create buzz in your community and draw in well-wishers and deal-hunters is a big job, and you likely will have your hands full with your customers.
Having a store closing consultant can mean that your marketing machine keeps running without missing a beat, while you get down to the business of selling off all your inventory.
2. Getting People To Buy
Let’s face it, you’ve been in business for years, and you know how to sell a thing or two.
However, there are some different parameters to factor in when you’re working with a limited time frame and ever-limited inventory.
There are ways to create that ‘buying frenzy’ which induce customers to buy now rather than wait until later.
As well, we’ll help you to create an aura of excitement that causes people to come back time and again, bringing friends and family to help you sell through your inventory.
3. Keeping Sales Consistent Even As Your Inventory Dwindles
Merchandising is so important that it can single-handedly rescue your revenue stream.
Sparse shelves and racks make you look like you’re picked-over, even when customers know the reason is that you’re selling off your products in order to close.
You have to maintain enticing selection and pricing to match.
Customers are drawn to unique displays, and if you can’t entice them, you’re going to lose them, and their open wallets.
There are tactics to this, of course, that were developed with years of experience.
We can help you keep your store looking like a great place to shop, even as your inventory sells through.
We can also help you source and augment your inventory, which helps keep your shelves looking full and gives you more product to move, and profit from, all while excelling the sell through of your owned inventory.
This can help you increase your sales and profits.
4. Keeping Margins As High As Possible
Clearance sales are renowned for their deep discounts, causing people to wonder, “are they making any money at all on these products?”
The truth is, while you have to accept a lower margin, you greatly increase your volume.
Would you rather make 50% on $100,000 or 25% on $400,000?
Your Silverman consultant will help you get the highest volumes while managing the margins to get you the best results for your sale event.
After all, you’ve likely already paid the invoice on your inventory, so it’s time for it to start working for you.
5. Liquidating Down To The Bare Walls
If you’re looking to liquidate right down to the bare walls, you might also want some help with maintaining your company’s reputation as you navigate through the process.
This might be true if you want to move forward, proud of what you built and how gracefully you exited.
Or it might be because you live in a smaller town, and you want to be as good a community member on your last day in business as on your first.
We can help you plan an approach that makes sense for you.
6. Keeping You Focused On Running Your Business
As you know from your many years in business, running a store is a full-time job.
Now factor on top of that all the closing activities, planning and strategizing.
Now, also add in that you’re likely emotional about closing your store, even if you happen to also be excited to be moving on to new opportunities.
A lot is going on in your life.
We hear quite frequently from our clients that they appreciate the help transitioning their lives, not just closing their stores.
Contact Silverman Consulting & Retail Services
If you’re considering retiring, moving, downsizing or closing your store, but you don’t know where to start, we’d be honoured to be your guide.
Reach out and contact Silverman Consulting & Retail Services, and we can sit down with you to figure out the best action plan for you.
We’ll be there the whole way through, so that you’re not only supported in closing your store, but in moving on to your big, bright future.
Silverman Consulting & Retail Services229 Yonge St suite 400,
Toronto, ON M5B 1N9, Canada
1 (888) 955-1069