Why Professional Assistance is Important
Retailers are in the business of operating stores. The process of closing a store adds a new and very different management burden. Ensuring success requires careful planning; close monitoring of sales, margins, and expenses, and aggressive execution of a well-designed sale plan.
Experience with hundreds of store closings in every retail category has provided G.A. Wright the knowledge and experience to know:
- How to line up a crowd of excited customers waiting for the sale opening.
- Why a good image, quality merchandise, and loyal customers will mean the best total return from a Store Closing Sale
- How to answer all of the questions customers will ask in a way that will increase sales while building your image in the community.
- How to create a buying frenzy in the store, which causes customers to buy now rather than wait or check prices elsewhere.
- How to keep margins high on the front end of the sale to compensate for any markdowns that will be necessary to close out the hard-to-sell merchandise on the tail end.
- The most effective print advertising for a store closing that attracts lines of customers without revealing any prices.
- The power of direct mail and how it is most effectively used to generate sales.
- How publicity can be used to add credibility and impact without increasing advertising expenses.
- Merchandising techniques that will move customers through the store faster, expose them to more merchandise, and increase their purchases.
- How to keep your customers coming back again and again, bringing family and friends, until you have sold everything.
- What to do as your merchandise sells down and becomes depleted.
- A foolproof way to sell those items no one seems to want.
- How to collect accounts receivable.
- A system for selling fixtures and equipment that endures the highest possible prices.
- How to keep your best employees as long as you need them.
- What can be done to sell your store location and why its more valuable without the inventory.
- Inexpensive ways to beef up security and cut losses from shoplifting and other forms of theft.
- The best way to deal with your banker and key suppliers to make sure they support your plans.
- The best time to conduct a sale and how long it should last to maximize your return.
Reliance on a company in the business of managing store closings which has tested and perfected methods of maximizing results, and has significant experience with the process, is a critical part of successful store closings.
You should not attempt to close your store without professional assistance.
"Opening day of the sale was unbelievable. Our parking lots were full, long lines formed, with hundreds of anxious customers waiting outside the doors to get in."~G.A. Wright Client - Tons O'Toys
"In the case of a retail business your company provides answers which benefit the bank and our customer."~G.A. Wright Client's Bank - Affiliated First National Bank
Services Provided by G.A. Wright
G.A. Wright can help you conduct a Store Closing Sale with an on-site consultant to plan and manage the execution of the sale. In addition, a number of other services are provided which include the expertise to do the following:
- Analyze the location, inventory, physical characteristics, sales history, market potential, and competitive environment of your business to determine its viability and value.
- Recommend a plan including the best timing for a Store Closing Sale, the anticipated return, and the resulting impact on the business. In addition, G.A. Wright will help you review other options or courses of action you may want to consider.
- Provide a mechanism to quickly and cost effectively sell inventory, fixtures, and other assets at highest possible prices.
"Your professional consultant set up a system of selling our store fixtures that resulted in an unexpected objective; in fact, it more than doubled the estimated value."~G.A. Wright Client - Wallace's