Jewelry Store Total Liquidation Sales
Total Liquidation Sales are composed of Jewelry Store Retirement Sales in which the store is closing and there is no successor or buyer, Going Out of Business Sales and Store Closing Sales.
The assumption of these three themes is that at the conclusion of the sale the location will close and the business will end, a total liquidation. The primary goal of a total liquidation is to capture the maximum amount of cash possible. All inventory, all furniture and fixtures, show cases, safes & shop equipment, mailing lists, findings, loose stones, absolutely everything that can be turned into cash is turned into cash. In this instance all three of these themes can be used interchangeably. Going Out of Business is the strongest of these themes however many owners choose Retirement as their theme for personal reasons. One such reason we hear often is when the owner(s) want to create a celebratory atmosphere. Store Closing is frequently used when the owner wants to continue the business as a “by appointment only operation” and no longer wants or needs a six-day-a-week retail location. Sometimes these themes are combined, “Retiring – Store Closing” or “Going Out of Business – Retiring”. All of this is discussed prior to the ad copy being written. A total liquidation should not be confused with a transition sale to the next generation where the word “Retirement” may be used. We will talk about that under transition sales. The ad copy for a total liquidation sale leaves no question in anyone’s mind that this business is closing and all-must-go!
What are the Key Elements that make a Retirement Sale, Going out of Business Sale or a Store Closing Sale successful?
- A thorough review of the store’s inventory is an absolute must. Any opportunity to appropriately price-adjust older goods is of great benefit to the financial goals of the sale. In the majority of cases arranging for fill-in inventory on consignment in enough quantity is likewise highly beneficial to the goals of the owner. Sales of this nature frequently attract deal seekers that aren’t typically regular customers of the store. As such a broader range of inventory categories and price points frequently results greater sales volume. Again, a part of a good fill-in inventory needs assessment and strategy.
- A suitable, flexible, affordable, and custom-made advertising campaign that can be adjusted and edited as needed is another key element. CFCO spends a great deal of time researching, outlining and detailing the ad campaign for each sale it conducts.
- The on-site Supervisor CFCO supplies to each sale is a very important element. Our Supervisors are all former store-owners or managers. All of them have in excess of 30 and 40+ years of retail experience, and like the majority of the store-owners that hire us grew up in the industry.
- Any RJO member that hires us gets a team of seasoned experienced professionals that came up through the ranks much the same as they did.
Benefits of choosing CFCO to Conduct your Retirement Sale
Our team of professionals can streamline the process of analyzing, planning and implementing the key elements necessary to generate a successful Retirement sale. We aim at hitting 100% or more of your annual volume in a sixty-to-ninety-day Retirement, Going out of business or Store Closing Sale. We can take the stress and uncertainty out of the process. Our team will focus on the sale of your inventory and how to maximize the financial benefit to you from your Total Liquidation Sale-Event. We understand that this is a once in a lifetime event and needs to be successful. We likewise understand that closing your store after a lifetime in the jewelry industry is a transitional and sometimes emotional process. Our goal is to make this transitional process as stress-free as possible. We will provide you with all the options available to you, but never take control away from you. We can take the burden off your shoulders while still keeping you in every aspect of the decision-making process. Contact us today to learn more about how we can help make your Retirement Sale, Going Out of Business or Store Closing Sale as smooth as possible. We look forward to hearing from you!
Conclusion
Planning a “Total Liquidation” Retirement, Going Out of Business or Store Closing Sale is a process that involves a lot of coordination. Theme determination, advertising copy, media planning, budgeting, merchandising, supervision, a review of local consumer protection codes, an in-depth review of the stores inventory, fill-in inventory needs, and pricing methodology. None of these tasks is difficult in and of themselves and something every retailer is familiar with. Coordinating all of these in preparation of a major one-time Sale-Event that may be key to your retirement can be a daunting task. We have planned and conducted hundreds and hundreds of these sales throughout the country. Give us a call. It doesn’t cost anything to talk about it. We look forward to hearing from you soon!
Testimonials
One of our goals as a company is to maintain a positive reputation to reassure our clients that we deliver results. As you browse through them, you’ll see that the common theme is extremely happy customers who achieved their goals and felt on top of the world after working with us.
The sale was a huge success! We followed the outline as we planned and it worked as Chuck predicted. We did in 3 ½ months what we normally do in a year. We managed to pay off a lot of debt and now we have enough in our checking account to make it through the year. We would highly recommend The Chuck Frey Co. They are honest and very knowledgeable about how to make a sale work for you…Read More
It’s hard to know where to begin. When we met in the spring of 2004 our fifty – year old store was in debt, in the grips of a family struggle over ownership, and on the brink of closing. To say the least our prospects were bleak. Little did I or Debbie know that you and your firm were about to become members of our family as you guided us through an eight and a half month process that has literally wiped out all of our debts….Read More
I never thought we’d attain the highest projection level but we exceeded it! More than 2 years sales volume in 90 days even in the 2020 COVID environment. We talked about doing the sale for about 5 years, you answered all my questions and again, I am glad I made the right decision when choosing the company for my retirement sale. Please don’t hesitate to have any Jeweler thinking of doing the same call me…Read More
I am very pleased with the outcome of our retirement/going out of business sale. The results exceeded our most optimistic expectations and we are both personally and financially rewarding. Until it actually transpired, I did not believe we actually could “sell down to the bare walls” and not have to liquidate the majority of our merchandise for pennies on the dollar….Read More
Chuck Frey & Co comes highly recommended as we enter retirement after 82 years in business. Our retirement sale conducted by Chuck & Frey Co. broke all records, projections and expectations. We are in disbelief of what was accomplished. The professionalism, knowledge, honesty, mutual respect and experience persevered from the beginning to the end of the sale. In addition, the personal touch and genuine concern of…Read More
Your firm’s capable handling of all advertising, from ad preparation to taking care of supplying the media with all the necessary information, went a long way in lessening the pressure of an already stressful time. You listened to my suggestions concerning our ads and came up with an excellent running campaign to see us through the sale. I thank you on both a professional and personal level for providing us with…Read More