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:
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.
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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