How Charles Frey Co. Boosted Bagley & Co. Jewelers' Retirement Sale
Bagley & Co Jewelers is a 131-year-old fourth generation family business from Duluth, Minnesota. This jewelry store, like many nowadays, has decided to close its doors and retire from the jewelry industry.
But not until they do a final retirement sale dedicated not just to their loyal customers but also as a commemorative experience for their staff, who had been working with them for decades.
What Bagley & Co Jewelers is Going Through
Preparing for store closing sales can be quite stressful. It is not just the manual work of inventory, but also the emotional ties the owners and staff have for the store. The combined physical and mental strain can make retirement sales challenging. And with a store with a 131-year-old history, this becomes an even bigger hurdle. A century-old jewelry store deserves to have only the best going out of business sale. And this is where Charles Frey & Co comes in.
How Charles Frey & Co Helped Them Overcome Challenges
Charles Frey & Co is a 43-year veteran of the jewelry industry. They assist jewelry stores with their retirement sales, going out of business sales, and more. Our team of expert sales consultants is trained to provide jewelry stores with the best sales experience. Whether it’s to consolidate, retire, close, or transition, Charles Frey & Co provides solutions to make sure jewelry stores can close in style and elegance.
So when Bagley & Co Jewelers reached out to us regarding their plan to do a going out of business sale, we were ready to help them in every way we could. This retirement plan has been 8 long years in the making, and we made sure it was all worth it.
Charles Frey & Co helped the 131-year-old jewelry store experience the commemorative going out of business sale they deserve. Here are the services Charles & Frey Co handled for Bagley & Co Jewelers.
Day-to-Day Logistics
With Charles Frey & Co, Bagley & Co Jewelers doesn’t have to worry about the manual work of their retirement sale. Such services include:
- Inventory Management: Checking their remaining stock and determining what’s selling and what’s not.
- Organizing Stock: Arranging the jewelry pieces to make it easy for customers to navigate, especially as stock decreases.
Handling these important tasks for Bagley & Co Jewelers allowed them to focus on the emotional side of retirement. They could spend time with their staff and customers. They were able to spend more time bonding with customers that have been buying their jewelry for years.
“One of the best parts was that I got to work with all my customers on the floor selling and working and designing and getting things for them.” – Bagley & Co Jewelers
Guidance and Leadership with the Retirement Sale Event
Handling a going-out-of-business sale can make a store owner feel lost. And having someone to guide you throughout this time is a huge help.
Charles & Frey Co took the mantle from the store owners. No more worrying about the sale. We made sure Bagley & Co Jewelers would feel secure knowing everything about the sale is handled well.
“I didn’t have to run the business because John Carter, Charles Frey & Co’s supervisor, took care of all that for me…they knew the plan… it was tastefully done.” – Bagley & Co Jewelers
Advertising
Aside from logistics, Charles Frey & Co also handled the advertising side of the sale. As a going-out-of-business sale for a century-old jewelry store, this event has to be one of a kind.
That’s why Charles Frey & Co pulled all their resources to make sure advertising this sale is a success. We made sure their loyal customers know about the sale. That they would have all the visibility they need to sell all of their precious jewelry. And we did just that.
“…extremely effective in advertising” – Bagley & Co Jewelers
Making the Staff Feel Engaged & Proud of the Sale
Bagley & Co Jewelers decided to set up an incentive pool to motivate staff and help them stay engaged and work together throughout the sale. Bagley & Co Jewelers had a lot of long-term employees (46 years, 44 years, etc.). With Charles Frey & Co’s guidance, the sale became enjoyable not just for the customers but also for the staff. Bagley & Co Jewelers was able to close their doors after 131 years with their staff feeling proud that they were part of such beautiful history.
“(The staff was able to) enjoy the experience of closing out a store that they were very proud to work at.” – Bagley & Co Jewelers
Bagley & Co Jewelers’ Going Out of Business Sales Exceed Projections—Up to $1.7M
“We just finished up a going out of business sale with Charles Frey & Co… Projections of our sale were about $880,000 and we ended up doing $1.7M.” – Bagley & Co Jewelers
Compared to the initial projected sale of $880,000, the total sale generated was a whopping $1.7M. This value is 93.18% higher than the projected sales.
The store’s annual sale ranges around $1.4–1.5 million, so to earn $1.7M in just two and a half weeks came as a total surprise to Bagley & Co Jewelers. They were also able to sell nearly all of their remaining inventory within that time as well.
Aside from this, Bagley & Co Jewelers described the experience as a positive and celebratory event for customers, with many of them leaving the store feeling satisfied with their purchases.
Charles Frey & Co’s professionalism and commendable execution of the sale led to this big success, and Bagley & Co Jewelers couldn’t be more happy with the results.
“We closed in style and grace… We made a lot of people happy… It was one of the nicest best experiences I’ve had in the retail business in my 38 years” – Bagley & Co Jewelers
Let Charles Frey & Co. Lead Your Going Out of Business Sale!
Planning on doing a going out of business sale for your jewelry store?
Just like Bagley & Company Jewelers, you too can reach sales like never before and close with style. With over four decades of expertise, we at Charles Frey & Co are more than capable of handling every aspect of your retirement sale.
From advertising to logistics, we’ve got it covered! We will provide you with the resources and advise you need to close your shop on a high note. We also make sure you reach (and exceed) your sale projections so you can get back all the investment you placed to your shop (and more).
We do all of these so you can focus on what matters the most—your team and your customers.
Trust the experience of our sales professionals to guide you through every step of a successful going out of business sale!
Reach out to us via call at (888) 688-1881. You can also visit us at 1092 Johnnie Dodds Boulevard # 105, Mount Pleasant, South Carolina 29464, United States.
The Next Chapter: Life After The Sale
Feller is now retired, but runs a small business that is apointment only which gives him the flexibility of working only ten hours a week. In addition, he no longer confines himself to associated with inventory control and business operational processes which enables him to work freely.
Looking back at the experience, I remember telling myself, “I couldn’t have done it, not like that.”
Feller’s story is a motivator for entrepreneurs who are contemplating a change. It is the collaboration with liquidation and sales experts that gears one towards financial independence and an easy shift into the autumn years of life.
The Reason for Expert Guided Store Closing Sale Offers
The effectiveness in closing the stores of Goldsmith Company Jewelers brought to the forefront the need of an authority in such delicate shifts in business operations. The difference in a failed sale deemed to liquidate inventory and a stellar one is all in the level of planning and execution involved.
These are some of the key factors that have contributed to this success:
- Creating Urgency – Customers had an incentive because the deals were time-sensitive.
- Strategic Pricing – Discounts were designed to capture value while helping to sell more items in a shorter time.
- Multi-Channel Marketing – Different forms of offline and online marketing generated a lot of customer traffic.
- Dedicated Support – A specialist’s involvement ensured that every action taken was driven by data throughout the process.
Need Help Closing Your Business Successfully?
If you are thinking about a retirement sales, store closing sale, going out of business sale, moving sale, or stock reduction sale, Charles Frey & Co would be the right choice to help you achieve maximum value outcome.
Why Choose Charles Frey & Co.?
Store closing and high-return sale executions with proven success results.
Tailored advertising and marketing support for every business needs.
Direct and fully engaged support for the client during the whole process.
Proven record of helping owners of businesses retire or shift successfully.
Stop wasting your money. Your store closing sale can be maximized.
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Reach out to us now to know how we can solve your transition problems.