Storage rooms, dusty products, cluttered shopping areas, overstocked shelves are all costing you money!
Get rid of all of that old inventory. Every item in your store is costing you money until you sell it.
If you’re one of those “it’ll sell eventually” or “I paid X for that. I could never sell it for Y!” kind of business owners, we need to chat.
Cassie’s boutique catered to women who valued the finer things in life. Fine china, linens, clothing, jewelry, home furnishings, food and wine. And Cassie carried it all. Every nook and cranny of each room and the attic was packed with luxury items!
Cassie was also having a cash flow problem. We did a little digging. Her average dollar sale was great. Her profit margins on most of her products were phenomenal. Her clients visited on a regular basis. Her fixed expenses were low. Why were they challenged to meet their financial obligations each month? INVENTORY!
The constant buying to have something for every client, in every size, shape, color, and option coupled with the resistance to sell the old merchandise before adding more merchandise was crippling the business!
It’s pretty simple. Monthly vendor payments can’t be made if you don’t sell the inventory you purchased from them.
And let’s face it. Dusty products in cluttered stores don’t provide a positive experience for your customers. They do tend to produce poor reviews and lost customers.
The fix? Get rid of it! Do the math on all your old inventory and sell if for what you paid for it. Yep, make no profit. You’ve been loosing money with it sitting on the shelf or hanging on the rack up until this point. It’s time to stop losing money!
Get a fresh start with only your newest inventory. Going forward it’s first in first out. Do not add any new inventory until you’ve sold enough existing inventory to invest in your next purchase.
Get rid of old inventory:
- Create a better customer experience
- Improve cash flow