In every business, excess inventory can become a drag on your sales and progress. For many, your cash flow may be bottled up by the investment you made in those products just sitting in the storeroom. Worse, that excess inventory may still be sitting on your shelves…gathering dust. This can even be a burden on some Direct Sales operations. You may have decided to stock up on some hot sellers, so your customers do not have to wait. Now those “hot sellers” have gone cold. In today’s changing business climate sure bets can sometimes become albatrosses. None of us want to be left holding excess inventory of hundreds of brand new iPhone 4 cases.
Converting Excess Inventory Into Sales
Converting excess inventory into sales requires some creative thinking. It also may involve business triage. Just like medical triage, you may need to decide what excess inventory to let go, what to preserve, or what to sell. If you watch any medical dramas that experience mass casualty events, you are aware that it is necessary to prioritize incoming patients. Some are easy to treat, some harder and some…let’s just say I would never want to make that particular decision. Luckily for you, the only pain you may feel is from losing some revenue.
It’s Decision Time
As we alluded to earlier, in order to move excess inventory, you have some decisions to make. In a nutshell your “inventory triage” looks like this:
- Conduct an excess inventory sale.
- Hold the items until demand recovers.
- Liquidate at a loss.
Obviously, choice #3 is listed last for a reason. However, if you donate the items to charity or give them away as gifts, the pain can be lessened. Option 2 may be viable, but that road is what brought you to this excess situation. Yes, you may need to do all three. But let’s focus on #1 and leave the others for another blog. The One-Day or even Two-Day store gives you a focused opportunity to move that unneeded inventory.
Open A One-Day Store At The Beacon Center
You have excess inventory. You have a customer list. All you need is a location. Luckily, we have that one covered for you. Our facility, The Beacon Center is ideally suited for a pop-up or one-day store. Even if you have a brick and mortar location, holding a liquidation sale in a neutral location can not only drive more customers, it can keep any negative connotations away from your main location. Who wants to hang a banner or signs admitting you mismanaged your inventory? Our venue can be set in a variety of ways to display those items you need to move. Our central valley location and close parking make us the ideal partner to help you sell. In addition, our owner, Becky Stonebarger has many years of retail and direct sales to help you game plan your sale.