How to Choose a Retail Liquidation Company

There are a lot of options when choosing a consultant to help you close your store. Here are four things to look for when hiring a retail liquidator:

1.) Experience

There’s a difference between retail experience and liquidation experience, so look for a company that has conducted successful store closing sales. When talking to a potential consultant, ask them if they’ve ever owned or managed a store that was liquidated, and how many stores they’ve helped close.

2.) Integrity

Look for a company who is ethical and honest, who will partner with you to get the best return for your inventory, fixtures and other assets. Choose a liquidator who will relieve the pressure placed on you, work with your employees and gain the respect of your customers.

3.) Clear & Fair Contracts

Before hiring a liquidator, read the contract thoroughly to make sure you understand it and you know what you’re getting. Look for red flags like guarantees and percentage pricing. There are no guarantees in the liquidation business, so such promises often come with a catch that benefits the liquidator more than the store owner. Percentage fees may sound great but giving someone else part of your biggest sales and even the sale of the business itself can quickly add up to far more than you may have expected.

4.) Flat Fee Pricing

Choosing a retail liquidation company who charges a flat fee instead of a percentage will make planning easier for you. They’re easy to work with because you’ll know up front what the fee will be before you make a commitment. Some companies may charge fees for sale signs or even for the sales rep to call on you before you sign a contract.

If you’re facing the decision to close your retail store, we’re here to help you every step of the way.

Wingate Sales Solutions offers clear pricing and easy-to-understand contracts with free, no-obligation consultations and no hidden fees. Our company has more than 100 years of experience helping thousands of store owners successfully liquidate their inventory. Call us today at 1-888-480-7253 or request your store’s customized sale plan online. Contact us early to start the planning process.

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Is COVID-19 Effecting Your Business?Now is the Time to Plan Your Sale

We are facing highly unusual times. Stores in many states, cities and counties have been forced to close, and the consumer has been encouraged to stay at home and only shop for necessary items. It now appears that things are beginning to break open, the consumer is starting to get out and retailers are going to have to aggressively go after every dollar they can get to cover lost sales.

The retail industry has lost their good spring selling season. Retailers are stuck with two seasons of merchandise. Now they must reopen with a strong sale and heavy advertising to generate customer traffic and raise a huge amount of cash. Out of season and over stocks need to be converted to cash while in season merchandise needs to be sold to make as much profit as possible. AND IT NEEDS TO BE DONE AS SOON AS POSSIBLE!

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