TO CLOSE OR NOT TO CLOSE…THAT IS THE QUESTION! PART 3 OF 3
Tough decisions call for leaders who seize the moment of uncommon business opportunities. However, EVERY opportunity has a potential of boundless success, along with challenges and hurdles. The major challenge/hurdle currently facing the furniture business is the economy, the manufactured imports, and the changing buying habits of customers. What is your Opportunity? Just ask Joe Bograd or Sam Fishbein. They left the marketplace with their integrity intact and without a shred of debt! They closed down on their own terms (not some shady liquidator’s terms), with their heads held high, and with every piece of furniture delivered and every single customer taken care of. It can be done the right way! Hiring a Sales Promotion expert to help you with ALL the details might be your first step.
Research show that a properly conducted sale event will (at a minimum) double the volume of a sale that is engineered by a store’s management. So, there is no doubt that a store owner or CEO should choose a Professional Sales Promotion Company when facing a large, storewide event; maximizing the financial and positive public relations of a Remodeling, Remerchandising, Anniversary, Relocation or Retirement is a smart business decision for you, your stockholders and your customers.
When closing a business, the role of a Professional Sales Promotion business is crucial. Credit issues, state and local statutes, employment issues, extra help, accurate projections, a broom-clean store(s) at completion, and profits you put in YOUR pocket! The Promotion Company handles all these.
The question that an owner/CEO should contemplate when confronting the issues is not: “Should I hire a company to help me maximize the return of a sale” but “What company should I choose?”
A small amount of due diligence is appropriate. When researching, look for the company that has the longest number of years in the sales promotion business. Look at their past and present client list, and see if they are doing or have done business with stores like yours. Look at their marketing and advertising methods; quality of their web site and print advertisements; their use of social media; their history and recommendations; and most importantly, study their contracts!
A sales promotion company should NOT have a multiple-page, complex agreement. Simply put: the more complicated, the fewer dollars you keep! Check to see if a company has had lawsuits brought against them by their clients, or have been in trouble with local authorities or with States’ Attorneys-General.
Don’t be fooled. All Sales Promotion Companies are not ‘created equally.’ Most are hard-core liquidators claiming that they are experts in Sales Promotion. Most retailers really don’t want to turn over their checking account, keys, employees, good name and reputation, and overall control to a liquidator. It is NOT NECESSARY.
In sum: furniture retailing is changing quickly. Since 1914 the Lynch Sales Company, originator of the Sales Promotion business and the first company of its kind, is the firm to be trusted in today’s very unstable economic environment. Trust our one page contract, our track record for working with the best stores, our 98 years in business, our innovative additional inventory program, our credit program, our non-litigious business practices, and many other details that make Lynch the firm with uncompromising integrity and unparalleled results.