Frequently Asked Questions about going out of business sale, Retirement Sale and how to close a retail store with highest profits?
Below are some of the most common FAQs to help get some of your initial concerns addressed.
I fully understand this is an emotional process.
You get ONE SHOT at conducting a successful store closing sale, so I encourage you to scour my site, watch all the videos, check my letter to you on the About page, then schedule a free, private consultation with ME directly.
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In short, our fees vary based on your unique circumstances. I don’t work off a grid.
Some situations require more work than others.
All my consulting packages are customized because every situation is different.
Schedule a free private consultation with me, let’s talk openly about your situation, then we can discuss if it’s a good fit to work together.
If it is, then we can discuss options based on that.
In short, if you’re price shopping or don’t mind a cookie cutter approach to your store closing sale.
And if you don’t care if your consultant is qualified or not, then you’re better off with another provider.
If you want the best, then that has a cost attached to it. There is also a high cost to low price.
Unlike EVERY other provider or consultant out there,
- I will LISTEN to your needs
- Customize a plan that will put you in the best possible position to profit
- Maintain your reputation in the community
- Lower your advertising budget
- And still be able to afford to have me work with you directly.
- Consulting fees (which include a print sign kit for your store and all planning)
- Marketing costs
If you want hidden fees you’ll need to talk to the “other guys” who provide a similar service.They are notorious for having TONS of miscellaneous fees that are seldom [never] mentioned up front and tucked nicely away in the fine print of their agreements.My fees are comprehensive, inclusive, and simply stated in our work agreement.There will no additional charges other than what you know about up front.
I have worked in nearly every type of retail store imaginable (23 categories of retail).
My systems are based on powerful and proven marketing strategies that work in any retail environment.
The psychology behind getting someone into a store to buy a couch is the exact same psychology to get someone to come into a store and buy a board game.
What you sell should not be your big concern.
Your biggest concern NEEDS to be the marketing processes used to get people in the door to buy what you have to sell.
That’s where I come in.
Almost 20 years of experience in conducting retail store closing sales has taught me that it just doesn’t matter what you sell. All that matters is how you go about selling it.
See for yourself what some of my past clients in many different categories have had to say in these Retail Sales PRO videos.
Depends on your unique circumstances.
I take great pride in being your marketing partner and want to do everything I can to make working with me as simple and easy as possible because I know the strategies and systems I’ve created work better than any other out there.
As a reminder, if you’re looking for the least expensive service provider, I’m not your guy.
To secure my services, regardless of the type of consulting we agree is best for your unique circumstances.
I ask that you pay up front for the initial direct mail piece used to HELP launch your Sale.
This is more of a “goodwill deposit” for me to begin work and preparing for your sale.
100% of this money is applied toward your overall marketing budget.
This amount varies depending on the size of your inventory, the size of your social media following, and your existing mailing list – and will be determined after our initial consultation call.
You will be required to pay the balance of the development and postage for this direct mail piece, and depending on the size of your inventory and store, you will not be required to pay any consulting fees to me until after the first week of the Sale.
I proudly offer a Double or Nothing Guarantee like no other (to qualifying clients).
- If my systems don’t at least double your normal retail sales during the first 4-5 days of your Sale, then you’ll have the option to discontinue our agreement.
- If you are looking for a guarantee of a certain overall return or outcome, good luck with that…seriously.
- And I also offer an unconditional guarantee on my digital manual Liquidation Secrets Revealed.
- It’s important you at least understand the critical marketing processes my team and I will implement for you if we work together.
If you purchase it, and we mutually decide to work together, then I’ll apply 150% of the cost toward the consulting package we agree to.
If you follow my advice, my Store Closing program will leave you with very little, if anything, left in your store when it’s completed.
AND significant profit, so you can peacefully transition to the next chapter of your life.
This is probably the best, yet trickiest, question of all I have ever been asked.
With few exceptions the answer simply is “It just doesn’t matter” for the most part BECAUSE this type of sale -when done correctly- will get way more attention than just a “regular” sale.
Obviously, for most businesses you’re going to have a normally higher volume time of year, but a going out of business sale is different and will attract people regardless of when you have the sale.
If you find yourself with the mindset of “I’m going to wait until after ‘this season’ or ‘that season’ to have the Sale”, then most likely you are doing nothing more than prolonging your agony.
My marketing systems work well with the flip of a switch for both store closing and retirement sale.
This will be discussed in depth during your initial consultation.
If you have an ocean front home or condo in Kauai, a yacht, or a private jet you’re willing to give me access to for extended periods I may consider it…but generally, no.
As I have clarified on this website and profess openly to the world: “If you are looking for the “cheapest guy” or price shopping then you are absolutely better off going with the “other guys”.
After having been in this business for almost 20 years it’s my understanding that they will take just about anyone.
I do phone and email consulting, on site consulting, and hybrid consulting (on site AND phone/email) and for obvious reasons on site consulting is going to have a higher fee attached to it.
If price is your biggest concern (it really shouldn’t be no matter how “bad” you feel your circumstances are) then I suggest you purchase my ebook Liquidation Secrets Revealed, which is a comprehensive manual I wrote that breaks down…step-by-step…
So you fully understand why the marketing processes used for your Sale are the most important thing you need to consider; not the cost of services.
Remember, you get ONE shot at a successful store closing sale.
Additionally, I offer a 150% Money Back Guarantee, which simply means if you buy the digital manual, and then you think it’s too much to handle alone (not uncommon) then I’ll apply 150% of the price you paid toward the consulting package we agree on.
The length of your Sale is determined primarily by the size of your inventory, but for most stores will be less than 60 days, not counting preparation time from our offices.
Preparation for a sale we conduct usually takes about 4-6 weeks.
And although I have a trusted team I’ve built to help me with the behind-the-scenes stuff required to facilitate and manage a highly effective store closing sale, my clients work directly with me.
Not an unqualified “filler” consultant. Not a retired store owner that couldn’t figure things out in the first place. Me.
As such, my calendar does fill up.
I know other service providers can get you “up and running” within a couple of weeks, and also happily send some “schmo” to run their circus for you.
They will also charge you less for their services (remember, there’s a high cost for low price).
My systems are unique because it involves sales letter composition, interviews with you, press release composition, print media design, Facebook sponsored ad design, digital media planning.
I also thoroughly research your market, who the target needs to be, implementing your marketing budget, meeting with advertisers, and much, much more – it takes time to set all this up effectively.
So again, preparation for a closing sale we conduct usually takes about 4-6 weeks.
Then I’ll have no other choice but to charge you more (kidding).
If you follow my advice this will not be a concern.
The store closing sales my team and I have conducted for clients for almost 2 decades have always generated well over 100% return on cost, and many times up to 175%.
It varies based upon your situation.
I often see retail sales AT LEAST triple (and often quadrupled or more) during the first 4-5 days of a sale alone.
For larger clients with a solid sales history (even if it’s currently declining).
If your retail sales have not AT LEAST doubled during the first 4-5 days of your Sale, then you will have a written option to discontinue our services as part of my Double or Nothing Guarantee.
NO ONE ELSE will offer such a guarantee!
You will have to qualify for this program, but I will happily discuss details during a free private consultation.
My unique marketing systems that involve a lot of social media and digital technology will minimize the marketing expenses during your Sale.
But as a general rule of thumb you can expect a cost of about 3%-15% of your inventory cost, depending on the size of your inventory.
The size and layout of your store and the size of your current staff will determine how many additional staff members you need.
This will all be determined after speaking with you about your circumstances and your project.
No. The “other guys” do though!
If you have a smaller inventory call them and you can see for yourself.
Just because you have a smaller inventory doesn’t mean you should be left out in the cold, so I purposely offer customized programs for all stores regardless of the size of your inventory.
And that is why I have worked with retailers that have inventories ranging from less than $40,000 of inventory cost to over $1,000,000.
I have found that a well stocked store at the beginning almost always performs better than an understocked store, so my recommendation is to fill your shelves and racks with as much staple merchandise as you can.
Staple meaning, “stuff” you sell regularly anyway and highly profitable items.
You have to invest in the marketing anyway, so why not have a full selection for them to consider.
As a general rule, no.
The “other guys” use prizes and frequent shopper games as a promotional tool which can cost you thousands of dollars in additional advertising budget expense.
This is a complete waste of money.
Your advertising dollars should be invested more wisely, and they are with my store closing plan.
During the launch of your sale only I suggest you offer a Gift Certificate to your store as a contest, but only on the opening day of the Sale.
This is part of the process of making your sale go viral through social media.
My proven systems have NEVER revolved around any ongoing games or point systems.
My focus is on helping you quickly re-establish a rock solid relationship with your old customers and establish at least a level of trust with brand new customers through creative marketing using viral social media, digital marketing, print media, and PR.
More often than not, because of the volume of traffic I’ll help drive into your store during your store closing sale, you’ll sell store fixtures, equipment, and store supplies organically to or through existing customers.
However, I will be helping you monitor this during the sale and if need be I’ll help you organize a strategic digital campaign targeting business owners that will likely be interested in these items, thus insuring the sale of them.
As part of the onboarding process when we start our work together, you’ll be asked to provide me with a list of all fixtures and equipment you have to sell, and also the most accurate account you have for a value of these items, then I will suggest the current value of the items.
These items will need to be marked within the store.
Simple. Because no one does what I do and how I do it.
And this is precisely why I proudly provide the names and contact information of all the main service providers in this space to my prospective clients.
Try asking them to do the same. IT WON’T HAPPEN!
A store closing sale conducted by me and my team will involve the latest in viral social technology, carefully and strategically written press releases, efficient digital marketing, and clever print media.
- All of which is designed to not only lower your marketing budget, but also maintain your reputation in the community and MAXIMIZE profit for you.
- The biggest reason so many retailers come back to me after contacting the “other guys” is because I don’t play games with you or your customers.
- This simply means with my proven systems you’ll never be asked to spend your hard earned money on thousands of dollars of prizes to give away during your Sale.
- You won’t be asked to mark and remark EVERY SINGLE WEEK, your merchandise, with “pretty little stickers”.
- This wastes valuable time and costs you even more money in supplies and help to do it.
You could go with one of the “other guys”, but why would you? You get ONE SHOT at a successful store closing sale. ONE. You have to make it count.
Planning a Going Out of Business Or Retirement Sale?
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The 7 Critical Factors You MUST Know To Avoid Losing Money And Ruining Your Reputation, when you finally decide to Close your Store.
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