Now I had six video stores and I had over a half million videos and DVDs. Started closing stores and did so over a period of five years.
Learned accidently sort of thru the video buying association I belonged to of a guy who had sold out a store successfully and this guy out of a zillion happened to really know how to do it.
The secret is basically illustrated on one sheet of paper but is too length to explain here but let me say it generated at least twice as much close out revenue selling out that first store then I would have gotten for the inventory without that what I call as simple secret automated no moving parts system. (No computer) the system just works automatically and maxes revenue for what is normally a night mare of pricing. Etc.
Anyway, I perfected it over a five year period and closed my last store last year.
Really feel bad because a lot of people are selling out video stores, mom and pops and getting almost nothing for their inventory.
Had another store out in small town that had a bed room full of store he had closed and wanted to know if wanted to sell it out for him. Sure did, bought it and really helped my store, sale half way thru the sale I injected a whole new inventory they had not seen in previous trips in.
First thing I did was go thru and pull out all the valuable videos that I knew were worth from $20 to $80 and set them aside to sell on E-Bay (the secret here is knowing how to find what this title is currently sold for) and in fact that is the secret of any sale you are going to have for someone else that you do they don’t know how to do and that is pricing is the key.
The system I used after high grading (taking out all the valuable (scarce) ones.) automatically priced itself. (Another story) from there on, to max dollar the income.
Now there was some junk in the inventory but not much. The poorest ones I sold I would say for more then I paid him. He was delighted with what I paid him and getting rid of them. He had sold out everything anybody in his small town was interested in so he had already sold out most of it...
Therefore, you as an expert conducting a close out sale have to know prices that are not too high and not too low. They have to be right on the money. If you do not know the estate sale market going price or whatever industry you are closing out then the price obtained will not be maxed.
If you are priced too high, they won’t sell if priced too low you get only a fraction of what maybe could have been gotten for some items.
Example, they would likely have sold some of the movies we sold for 20 for 3 dollars and thought that good we sold those.
But they would have missed the 17 dollars extra we got because we knew people would pay $20 for that movie.
Our automatic system did that but it illustrates the point. You are the key....you have to know the industry or have a fast way to figure out prices in advance of sale correctly and we can tell you how to do that... this is all a book....we are just educating you to make you aware what it takes to run a closing stores etc for others business. Hiring a pro will get them twice the income for their close out sale, it is that important...
You can learn to become that pro and provide a valuable service where you are paid a lot of money and worth it.
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