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Hardware Store Case Study

Case Study

Closing after business for over 100 years

Two men were partners and each ran a store in different towns.  One wanted to retire so they employed us to help close the store.  This store had been in business for over 100 years, 70 years under the current name.  Starting inventory was $140,000 and another $20,000 was brought in. Some of it was good new merchandise while a lot of it was merchandise they wanted to clean out of their other store.  They also transferred $10,000 in good merchandise to the other store.  This left $150,000 to sell.  The opening day of our Pre-Showing sales ran $39,969!  Due to the traffic and sales our customer incentive program produced we were able to hold media advertising expenses to $3,000.  Reported gross sales ran a little over $150,000 for a return of 107%.

Testimonial

Suburban Hardware has been in business for 70 years. After 50 years in the business I made a difficult decision to close the store. l decided the best way to get the most return on my inventory was to hire a liquidation firm to manage the closing sale. After interviewing several, I decided to go with Wingate Sales Solutions. I was Impressed with their proven formula that has been developed over many years in business. I was skeptical when they said they were confident we could clear out almost all of our inventory. Every promise made by Wingate has been realized. I believe mainly due to the sales consultant that ran the sale. From day one he took control of the sale. After evaluating our situation, he determined what our discounts should be, developed an aggressive advertising campaign and coordinated a successful prize contest to increase traffic during the sale. His enthusiasm for the sale was transferred to our employees. Because of his knowledge, dedication and experience the sale went smoothly. The first three days of the sale far exceeded my expectations. We actually surpassed our sales goal for the closing sale.

I have no reservations about recommending using Wingate Sales Solutions. We have a second store that we plan to close in a year and I have decided to hire them for the store closing sale.

~ Charles Waters