The Business Exit Strategy Solution Independent Retailers Need To Thwart The Retail Apocalypse
It is no secret that the rise of Ecommerce outlets such as Amazon has made it harder for all retailers to compete and attract customers to their stores.
It’s been aptly called “The Retail Apocalypse” and rightly so because of all the retail chains that have been impacted by it.
The push to combat ecommerce and attract customers to their stores has forced major retailers with long track records and deep pockets to change their sales strategies, promotions and increased digital efforts in order to attract the savvy online shopper.
Has it worked? Hardly.
In March, Abercrombie & Fitch announced plans to close as many as 40 stores in 2019.
A fashion brand known for its edgy-offerings; American Apparel shut down all of its 110 U.S. locations in 2017 after filing for bankruptcy (although purchased at a hefty price tag from a Canadian company).
The pharmacy retailer CVS said it would close 70 store locations in 2017 as part of a bid to cut costs and streamline its business online.
The total shutdown front even includes JCPenney, and more recently Payless Shoe Store.
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So, if huge companies have had to close their stores because they can’t compete with giants of ecommerce, then where does that leave the smaller, independent retailer?
The retail apocalypse has had an even bigger negative impact on independent brick and mortar retailers.
Whose owners often invest their life savings to get started in business and are active participants in the running and managing of their stores.
Unlike their bigger corporate chain counterparts, the smaller independent retailers don’t have the deep pockets and often don’t even have an exit strategy in place.
- Take a look down any main street and you can see without question that Ecommerce, Amazon in particular, are also pushing the independent retailer right out of business.
- With lower prices, free shipping, free returns and one day delivery in Amazon’s case, consumers are opting to forgo the brick and mortar hassle and wait for their items to show up at their front door.
That leaves what was traditionally called the “mom and pop” stores to close down as well as the bigger retail chains.
The difference here is that this can leave the independent retailers deeply in debt, their reputations destroyed with nowhere to turn.
While the major retailers have access to networks of investors and buyout options, there are few options for the independent retailer.
Selling as an ongoing business is not generally an option because the ability to get the value needed from a store with declining or stagnating sales is rare.
Store looking like this after the Exit
A professionally conducted, high impact sales event to the retail public has proven to be the most effective way to convert inventory and assets to cash.
The problem with this method is finding a company that is able to pull it off successfully.
I’m proud to say that my company, Retail Sales PRO, has consistently stood out from all others over the last 20 years because of my proprietary systems that have now even garnered the attention of celebrated retail experts.
Many people ask me, “How did you get started in this business?”, to which I always share that my dad was mentored by Sam Walton before Wal-mart ever existed.
He was in business for himself for almost 20 years, but was forced to close, ironically, because Wal-mart had then moved into all the areas where his stores were located…
- When I watched the pain he endured because he chose a company to help him that was far from qualified and ended up costing him tens of thousands of dollars in lost revenue.
- I knew I needed to throw my proverbial hat in the ring and help other retailers in similar situations.
- I quickly learned that the company my dad had hired and the way they went about their business was a relatively standard way of doing things with all the companies that served this little niche of helping independent retailers close their stores.
And that “way” was essentially cookie cutter regardless of the customer’s unique circumstance, using out of date and often ineffective marketing strategies, and worst of all…assigning an unqualified “rep” to help that was either a failed business owner who had used their services before,
This is what happened with my dad OR (worse) someone with little experience at all that maybe used to work in retail as an employee and needed a job.
Sometimes a combination of the two.
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I already know that by reading this then you are likely either getting to that point where you are wanting out…or NEEDING out.
My hope for you is that you do the right research and make sure that when you do decide who to help you with the store closing process you go with who provides you with the best strategy instead of the best price like my dad did many years ago.
And the pain I watched him go through because of that decision still motivates me to this day because I know there are retailers everywhere that are looking for options to exit their retail business with as much money and dignity as possible.
The short of it is this:
I have always been fascinated by marketing and have always taken great pride in figuring out new and innovative ways to bring attention to what I was selling.
It’s how I managed to start a six figure business at the age of 24 and a seven figure business at the age of 37.
I started Retail Sales PRO to conduct professional store closing sales events designed to help independent retailers convert inventories and assets to fast cash, but also walk away with their heads held high.
I am able to do so with proprietary marketing and promotion systems that have been endorsed by celebrated retail experts.
Proudly touting my company as the “most profitable exit strategy for independent retailers” I have developed consulting plans that help retailers of all sizes.
- I facilitate and run the sales event while the business owner can focus on running their business, which makes working with me and my company a perfect match.
- Because my systems are so refined and I have a team working behind the scenes I am able to work directly with my clients.
Unlike all my competitors who send unqualified reps or failed store owners out in the field, I’m proud of the fact I work with all my clients directly so they have the comfort of knowing they don’t have to endure the same pain my dad when he went through the store closing process.
I now serve clients all around the world in nearly every retail category, and because of my constantly expanding mastery of social media, direct mail, retail promotion, and an amazing team helping me behind the scenes I am able to work directly with ALL my clients.