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Retail Store Closing Plan and Going Out of Business Sales Events

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Published on May 29, 2014

See how G.A Wright can help retailers plan and manage a Retail Store Closing and conduct successful Going out of Business Sales Events while maintaining high margins.
www.gawrightsales.com

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Retailers looking for the best way to sell the inventory and assets of a store for the highest cash price are turning to GA Wright Sales for results they never thought possible. The sale started off like gangbusters. The first day was unbelievable. We've got a large parking lot that was completely full. Cars were parking on the highway. Right away people lined up. The sales the first day far exceed anything that we had ever done in the past. Sales momentum has increased practically on a daily basis. The levels are practically unbelievable. A lot of customers come back every day just to see what's going on. Well, the week of the sale left practically all the fixtures are gone the few that are left are sold just waiting to be emptied. As you can see around the walls are practically bare. I don't think there's any doubt that by the end of this week we're going to have a clean wall-to-wall sale. It's just been fantastic. As the sale's coming to an end, we have greatly exceeded our sales expectations. We could not have done this without Jay Wright. Their expertise has just been phenomenal throughout. The sale of the businesses as a going concern is the first option most retailers consider when they decide to sell. However, most stores are never sold is going businesses. Selling a business time. Negotiating a fair price is difficult and financing a buyer often involves unacceptable risk. This joint survey of the retail industry by GA Wright and a major national accounting firm has addressed the issue of how stores are best sold. This study concludes that of the methods used by those retailers surveyed, liquidating assets in a sale to consumers, appears to be the most favorable means when the main objective is to optimize profitability and cash flow. What was important to us is that we pretty much maintain our margin through these sales. So we're cleaning out the store, cleaning out inventory, but maintaining our margins. In the first two weeks of the sale, we've exceeded our sales for the first three months of this year. I've been very effective and it really confirms that we made the right choice on selecting GA Wright to facilitate the closeout sale. A store closing sale planned and managed by GA Wright is attractive because it's fast. A store closing can usually be conducted within 60 days. It produces cash. All inventory and assets are sold for cash. The risk is minimal. Sales are reasonably predictable and financing of a business sale is not necessary, and the total return generally surpasses that resulting from any other approach to selling a business. The success of the GA Wright approach is ensured because it's built on a carefully designed marketing plan. managed by a professional consultant. Store management is experienced in running a retail business but lacks the experience and expertise necessary to conduct a successful store closing. That's why retailers of all sizes use professionals like GA Wright when closing stores. And if your thinking of closing it yourself or an inventory reduction, trust me, you can't do it. You're so busy in what your field is of buying merchandise and selling, you don't know how to close your own store and get the kind of results that GA Wright has done. I can't recommend them highly enough. It's been very rewarding for me to help so many owners take advantage of their years in the retail business. We've been able to generate the cash necessary for a secure retirement or to pursue other ventures. My business depends on the satisfaction of my clients. GA Wright has made it possible for me to retire comfortably. They solved my cash flow problems so that I'm not going to have to worry about getting a real job right away. I much better served working with GA Wright in that they are keeping the sale going on a timeframe that I am sure I would have wavered from. My consultant is keeping me on task and allowing me the time to spend not only with my customers but my employees and sharing what this experience has been all about. And that time is just invaluable. You can't get it back once the doors are closed. GA Wright knows how to produce reliable results. See for yourself. I think the thing that probably surprised me the most was when people do a typical sale it's 30% off 40% off 50% off and you just keep marking it down. This was really strategic in we went line by line. What do we need to mark it down to? What can we preserve and so forth and over the whole month, we have really conserved our margin. And that's been really important, you know, for the profitability and so we have a lot of lines that were still making margin on, yet we're still moving through them, and that's been important for us.

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