G.A. Wright recently conducted a Store Closing Sale with Placerville Gallery, which is also known as the Original Thomas Kinkade Gallery. Nathan Ross, a co-owner of the store, spoke to us on camera about his experience using G.A Wright and why he decided to liquidate his art gallery. Hear about how a G.A Wright sale works, see a sale in progess, plus overall results he achieved with the liquidation sale to consumers. We hope you will find this video testimonial helpful.  If you are thinking about closing your retail business and would like information about How to Liquidate an Art Gallery or other type of retail store, please contact us at 303-333-4453 so we can mail you a free packet of information.

Other videos are available on our YouTube Channel HERE

Store Closing Information Packet


 

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Liquidation as an Exit Strategy: Is it time to get out of the retail business?
If so, you can do it quickly, safely, and for more money than you probably think is possible.
Here’s how!

Some retailers think that selling their store to someone who will continue to operate the business is the best way to obtain the highest price … They’re wrong. … Your business is very likely worth much more than the highest price you could obtain by selling it to another retailer.

It can take a year or longer to find the right buyer for your business. But, it’s a buyer’s market. You’re not likely to get your price and the buyer will want to borrow most of the purchase price from you.  The best way to sell your business is to sell it to the consumer who always pays the most. Selling as a going concern generally involves considerable financial risk. A buyer who is looking for a business usually does not pay cash. He wants to negotiate a leveraged buyout. If he has $500,000 in cash, he is not looking for a $500,000 business. He wants to buy a $1,000,000 business, paying, maybe, $200,000 up front and the rest over time. This leaves the buyer with working capital and some insurance that he’s buying a moneymaking enterprise.

Many retailers are reluctant to consider a store closing sale, because it is the most involved of the four means of selling, the return appears uncertain and “Going Out of Business” carries a negative connotation. However, it is important to carefully consider this approach because it can yield the highest return of the four methods listed.

A Store Closing Sale essentially attempts to sell the business in parts rather than as a whole. It makes sense that you can obtain a higher price by selling the business a piece at a time than can be obtained by selling everything together to one purchaser. This is especially true for most retail businesses. You probably agree that it’s possible to sell items individually at a higher price than can be obtained by selling those items in bulk. I can show you how to sell a retail business by selling each piece, from inventory … to fixtures … to office furniture and equipment. By conducting a professional store closing sale, the inventory and other assets of a business can generally be sold to consumers for far more than can be obtained any other way. It’s fast, safe, and the best way to get the highest price.

You may not be interested in selling right now. But eventually, you will want to move on to other enterprises or retire. An understanding of how you can obtain the most value for your business when you do decide to sell is important. Decisions you make now can enhance the value of your business when the time comes.

Order our full Retail Exit Strategy Information and Planning Kit below: (no cost or obligation offer for retail business owners only)

 

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Holiday Greetings! We thought that since this is such a busy week for many retailers, a long blog article would be a little too much reading, so we decided on posting a video of one of our most recent sales. Video below shows How to Close a Sewing Supply Store using the Retail Store Closing Programs offered by G.A Wright.

You can sell the inventory and other assets of your store quickly, safely and for more than can be obtained any other way using the techniques provided by G.A. Wright.
See a Store Closing Sale at Make it Sew. The owner, Bob Juenemann, talks about the results he achieved using G.A. Wright to help conduct a professional Going Out of Business Sale.

G.A Wright works with retailers large and small in all 50 States and Canada. To determine if a Professional Sale makes sense for your retail store, it’s generally helpful to receive more detailed information about G.A. Wright that can be sent via mail or email and will include case histories, letters of reference from past clients and an explanation of how we work with retail businesses.

Fill out form below to receive detailed information about competing methods of selling stores, marketing support for store closings, selling fixtures and equipment, case histories and reference letters from our clients, and a DVD showing other sales underway with owners talking about their stores. There’s no cost or obligation.

Store Closing Information Packet

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When considering a Retail Sales Strategy Post Holiday, many retailers only allow for the liquidation of items that didn’t sell during the Christmas buying frenzy.  This typically involves having a store employee create a cozy corner in the front of the store just near the entrance, still decorated with remnants of garland and holiday ornaments and a large white sign atop the fixture with red stanza that reads; 50% off Holiday Items. Then, conduct business as usual and wonder why this low priced merchandise isn’t moving. Of course in a week it’s marked to 75% off  followed by the over used Final Clearance plus add’l 10% off full priced item. Still, this merchandise doesn’t move and customer traffic is at an annual low. Not a great way to start off a new year. What many retailers don’t do at this very opportune time, is continue the holiday excitement for shoppers into January & February.  There are specific ways to do this that will result in positive cash flow and customers buying at prices that are not destroying the profit margin.

Here’s one way to keep customer attention.

Put the items on sale that people want right now! Then….Do Something Out of the Ordinary!
The sky’s the limit here. Anything you can do that is different than the norm will attract attention. You want  to do something that will make people turn their heads and take notice. Creativity and good taste are your only guidelines.

It is the traffic and having the right product at the right price that will precipitate the sale. So anything you do that attracts attention to the store and results in customer traffic is very likely to produce sales.

  • Put everything on sale!
  • Move items people want to the back of the store.
  • Sponsor a VIP showing — art, antiques, cars, collectibles, etc.
  • Do a charity bake sale.
  • Conduct a moonlight madness sale.
  • Do trunk showings.
  • Have demonstrations in the store.
  • Live music.

Imagination is the key to success and the more out of the ordinary you can get the better it usually works.

You can double or triple your sales volume for an extended period of time, attract a great number of new customers, and unlock the potential in your business with the sales promotion services provided by my company. This is the best way I know to solve a sales slump during slower summer months and I’ve spent years studying the techniques used to attract customers and increase sales.

We incorporate everything I’ve learned about retail advertising and sales promotion in our High Impact Sales Promotion Events.

Free Portfolio about G.A. wright Retail Sales Promotions.

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At long last we have released our full 2015 Retail Trends Report.
For the full printed report please CLICK HERE.

Retail Trends and Planning Report 2015
By Gary A. Wright

The Economy

Holiday sales in stores should be on track for an increase of 4% over last year.
Consumers are in better shape financially. A declining unemployment rate and rising incomes are improving consumer confidence. Consumer debt is down and net worth resulting from a rising stock market and higher home values is up. Interest rates are still very low. The decline in prices of gas and heating oil will provide extra disposable income. And, pent-up demand will motivate consumers to spend more money this year.

Next year in 2015 we should see continued growth at a faster pace than 2014. The economy continues to recover. Overall leading indicators are trending up.Expect the Gross Domestic Product to be up 3.5% in 2015 from 2014.

Consumer sentiment is rising but is still considerably below previous levels in both 2000 and 2007.  Inflation will advance but stay relatively low giving the Federal Reserve the latitude to keep interest rates low. Interest rates are expected to remain at current levels until the middle of 2015 when a slow rise is likely.

The value of the dollar is strengthening. This is resulting from economic expansion in the United States and relative weakness in many foreign markets. A strong dollar may result in opportunities for better pricing on foreign sourced goods.

Continued economic expansion makes businesses optimistic about the future. High profits have resulted in the accumulation of excess cash. Borrowing costs are still at record lows but executives also see an end to low rates. These conditions have combined to make improvements and capital spending now look prudent even though current sales may not justify the investment.

Economic conditions have tended to favor big business and are relatively more difficult for small business, less able to deal with new regulation, higher taxes and the health care law. Small businesses with less than 500 employees historically contribute all net new employment growth. The number of business start-ups has been declining in recent years. This is an indication of longer term challenges for the economy.

Trends that may hold back the expansion in retail sales are; rising healthcare costs, rising rents and mortgages, underemployment, slow wage gains, rising food prices and demographics. Demographic trends will be discussed more extensively later in this report.

Government spending is currently slowing. However, government spending will begin to grow again in the years ahead unless entitlement spending is curtailed.

The number of retired people is climbing. As workers retire their incomes decline, they reduce expenditures and begin to draw on entitlement programs. This problem will gain steam as the number of baby-boomers leaving the workforce accelerates. By 2029 it is likely to create a severe crisis. For the next few years, however, the economy should continue to grow.

Of course, several developments could derail this recovery. These may include inflation causing the Federal Reserve to raise interest rates rapidly, a larger than anticipated stock market correction, escalation of problems in the Middle East or Ukraine, an economic crisis in China or some completely unpredictable event. While these don’t currently seem likely, the risk is always present.

Retail Overview

The retail business is changing constantly. Large chain retailers have been closing stores at an accelerated pace. Closings are driven by consumer demand. Internet shopping is one driving force. Changing demographics is another. Overall shopper traffic in retail stores is down about 5%.

Many large retailers stock a popular item in the store but refer customers to their website to view other similar items. Of course, this moves a customer onto the Internet where there are any number of options available and an even greater selection from multiple competitors. So, is the referral of the customer to a company website really enhancing the inclination to shop the Internet first, look at the competition and go to the store as a last resort?

The fact that some Internet companies can avoid charging sales tax is another incentive for consumers to shop online.

The price check program offered by Amazon is allowing consumers to check competitive prices in the store just by scanning a bar code with a cell phone. Then the customer not only checks price but looks at product ratings. This is discouraging many in-store purchases. Other price comparison sites are Nextag and PriceGrabber.

The importance of brick and mortar may be demonstrated by Amazon opening it’s first physical store location in New York City. They seem to recognize the importance of a face-to-face relationship with the customer and the many other advantages of a traditional store. Expect other Internet retailers to begin opening stores.

A number of retailers are now experimenting with allowing customers in-store pick up of orders placed online. The store is the most powerful selling environment. Using the Internet as a tool to build store traffic is a viable strategy.

Demographic shifts in society are having a far reaching impact on the economy and retail. The Baby Boom generation, born between 1946 and 1964, is retiring at the rate of 10,000 per day. This is still the largest generation.

As people age they tend to become more diverse in their lifestyle choices. They are less influenced by fads and mass market advertising than are younger consumers. They need fewer products since they are well past the household formation period of life when they needed everything at once. This results in market segmentation and reduces the influence of the mass market retailer.

Baby Boom retirements will not peak until the period between 2023 and 2029. Today the majority of this generation are still working, at the peak of their careers and are relatively wealthy, compared to the following generations. Their children are out of school and on their own. They’re moving from the suburbs into or near cities. Their expenditures in stores tend to be for higher quality products and service. This is resulting in a shift in opportunity for small retailers who are service oriented, sell high quality products, cater to a market niche and are in or around cities.

The Baby Boom is a wealthy generation but still worried about having enough money to last through their lifetime. As they retire and lose income they understandably reduce expenditures in retail stores. Expenditures in retirement tend to be for healthcare, travel, entertainment, eating out, and services rather than products.

By 2029 the majority of Baby Boomers will be retired but still alive causing a big problem for entitlement programs. Society will be faced with higher taxes, fewer entitlements or both and, of course, less will be available for consumption of consumer products.

Generation X, the baby bust generation born between 1964 and 1982, is significantly smaller and less wealthy. Their careers are peaking as they take over the top jobs from Baby Boomers but there are not nearly as many of them. They cannot be expected to replace sales lost as the previous generation stops spending. They are also worried about supporting the Baby Boom generation and not having enough for their own retirement. By 2030 there are projected to be only two working Americans for each person in retirement. In 1960 it was five working for each in retirement.

Generation Y, the Millennial Generation, born from 1982 to 2000, are slower to marry, slower to move out of parent’s households, slower to get jobs and more likely to have one parent households than earlier generations. This is a large generation. It is slightly larger than the Baby Boom, more tech savvy and likely to take advantage of the Internet for shopping. This generation is beginning to move into peak consumption years but is unlikely to replace sales in brick and mortar stores of past generations. It is producing babies and this will fuel growth in the children’s business for many years to come.

We are becoming a more racially mixed society. By 2060 estimates indicate the country will be only 43% white. Immigration rates are high and immigrants are generally less educated and affluent. However, it is interesting that the average income of Asians surpasses that of Caucasians. The number of interracial marriages is growing and becoming accepted in all parts of society. This is having an impact on retailers as they must adjust to growing diversity or pursue a focused niche in a diverse society.

An objective look at demographics leads to the conclusion that the market environment for brick and mortar retailers may be as good today as we can expect for a number of years to come. We have a window of opportunity that is likely to close as we begin to get near the time of peak Baby Boom retirements about 2026.

Copyright 2014 G.A Wright Sales, Inc.

www.gawrightsales.com

Retail Trends Report 2015

 

To see more  about Retail Trends by Classification please order you FREE copy HERE.

We can email a PDF  to you if you call 303-333-4453 and give us your email (your email will be kept confidential)

 

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Many of our clients will tell you how skeptical they were going into a Going Out of Business Sale using a professional liquidation company. G.A. Wright Sales Inc. works with retail business owners and their employees to create a safe and professional selling environment allowing retailers to Exit the Retail Industry with dignity. We give retailers the time and ease of being able to concentrate on saying good-bye to their customers and their community. Use of a G.A. Wright consultant will produce a maximum return at minimum expense, reducing potential losses from excessive markdowns, ineffective advertising, excessive expenses, or a loss of momentum. The retail consultant brings three essential elements to the implementation of the G.A. Wright Program in a client’s store. These are a tailored marketing plan, experience and management expertise. Consultants are very carefully selected for their retail experience and ability. They come from a broad cross section of both general and specialty retail backgrounds. They are screened and are referred based upon their unique expertise, retail experience and the needs of our client. Then their performance is carefully monitored though reports from our clients to insure that they are producing high-impact sales results. Only those with a consistent record of successful sales and happy clients who have testified to their superior performance continue to be referred. If you need a reason Why Retailers Should Hire a Liquidation Company please read the reference letter from a recent client after their 2nd sale with G.A Wright.

Review for G.A Wright Sales Inc Store Closing Programs

Review for G.A Wright Sales Inc Store Closing Programs

This letter Reads: “It’s still hard to believe that after 42 years in business that the owner has decided to retire and leave the business to me. This decision came with a lot of serious thought and considerations. One of the main concerns was who to trust with such a major responsibility as a retirement/inventory reduction sale. Twelve years ago we had an anniversary sale with GA Wright that was very successful. So needless to say our minds were already made up.

We all know that the stagnate economy has forced many people into selling their gold and silver jewelry, and their coins and bullion. Our store image went from a well known coin and jewelry store to a pawn shop. Our inventory had tripled but our jewelry sales had almost diminished.

G.A Wright consultants planned an amazing sales strategy during Christmas of 2013. This helped to optimize our sales during a time that people were almost guaranteed to spend money. This Christmas was more like the “Good Ole Days” when people used to patronize the locally owned businesses. Our sale volume nearly tripled and the stores’ traffic was beyond our imagination.

The last 5 years we had lost our original customer base. This sale has enabled us to have an up-to-date customer list which can be used for future mailings for special events and sales.

G.A Wright and their consultants are very professional and they care about the image of the store and its’ owners. This has been a very positive experience and I would recommend G.A Wright to any of my colleagues.”

G.A Wright Client Tracy Steverson Coin & Bullion Reserves

Store Closing Information Packet

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Overview: Bill Hughes, owner of Kathie’s Christmas Gifts & Collectibles talks about using the services of G.A. Wright to reduce his large level of inventory. The inventory consists mainly of Christmas gifts and décor as well as art and collectibles for any occasion. Because the store has so many unique one-of-a kind items such as crystal ornaments, figurines and art work, they consistently ran into overstock problems. Bill sought the expertise of G.A. Wright over 10 years ago and now turns to a professional retail consultant every time he needs to run a Cash Raising Sale or Overstock Reduction Sale. In fact a year after this video was taken, Bill and his wife made the decision to retire so they can spend more time with their grand kids, and once again he turned to G.A. Wright for his final Sale. See Bill’s Retirement Sale Video HERE

The Promotional Sale: Bill’s promotional sale started in the fall and lasted 7 weeks. In the past Bill retained G.A. Wright services to conduct inventory reduction sales or inventory leveling sales on specific categories of merchandise. For this third sale G.A. Wright was retained to conduct a huge store-wide promotion to help create awareness in a slow retail economy, attract new customers and liquidate merchandise that wasn’t selling. The first day people were lined up around the building waiting to get in and buy. First days sales totaled more than they had done in a month’s time. Each day new customers came in and high sales volume was sustained throughout the sales event.

Comments by owner

“I had been getting mailings from a place called G.A Wright and I gave them a call, they sent somebody in who took a look at the situation and said absolutely they would know how run the perfect sale for Kathie’s Christmas & Collectibles… so next thing we knew we signed up for what I think at that time was a 9 ½ week sale G.A. Wright came in, the consultant arrived, and boy did they run a sale!”

“ We’ve been wonderfully successful for 31 years, but anytime we need to run a sale we know to pick up the phone, call G.A. Wright and we know they’re going to run a sale like nothing we have ever experienced or nothing that you will ever see or experience unless you try it.”

“G.A. Wright Inc.’s program under the direction of our professional and knowledgeable consultant was very effective at producing such an outstanding sale. Our consultant worked very close with us and our employees, thus we were able to achieve our goal.”

Complete packet of information about G.A. Wright:

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This is an excerpt from our upcoming Retail Trends Report that will be published in December. Please CLICK HERE to get on our mailing list for the full report:

Economic Trends for Retail Music Stores: Music stores selling instruments, sheet music and supplies are experiencing industry consolidation where category dominant retailers are pushing independents out of the market. A large percentage of sales is going to lower priced and imported products. Chains like Guitar Center are dominating many markets.

Independent stores must rely on high end quality equipment, repair services, music lessons, equipment rental and personalized service. There are still a large number of independents in the market. These stores can survive but must have a significant competitive advantage. Quality, service and expertise are the critical components of competitive advantage.

The Internet has been a big competitor. Customers find the product they want in the store, try it out and then go to the Internet to find the best price. Even band instruments are now being rented online. However, on the upper end of the market musicians still want to touch and feel the product they buy. They want to know the person standing behind the product and know where to go with service issues or a return. They are willing to pay for the extra service.

There has been a significant segment of the business in used equipment. This is a market niche that can be developed by an experienced independent operator.

The last five years have been especially tough for music stores. Annual growth has been negative. Part of the problem has been the recession but a decline in young buyers has also been a problem. As the economy improves business should get better.

How to Close a Music Store- Video

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Dear Retailers,

This week I decided not to write a traditional blog post. We have a new DVD with videos showing Retail Store Closing Sales In Progress and I want to make sure you get yours before we run out.

You may have seen or read about the crowds of customers and giant sales obtained from a G.A. Wright Store Closing Sale. But, like many people, you probably thought you could never do that kind of business in your store, with your inventory.

Lines of Customers at Recent G.A .Wright Sale for Hallmark

Lines of Customers at Recent G.A .Wright Sale for Hallmark

 

 

Now, on my FREE DVD you can see for yourself that before we came in, these were ordinary stores. And, the techniques that produced truly amazing sales, selling the entire inventory and all other assets of these stores, can do the same for you!

 

This DVD is proof positive that a G.A. Wright Store Closing Sale can sell all of the inventory and other assets of a store fast, safely, and for more money than can be obtained in any other way. Even more than selling the store as a profitable business.

See for yourself…

  • How my Store Closing Sale produces crowds of eager customers waiting for a store to open. They’re ready to buy anything that’s not nailed down.
  • How we harness crowd psychology to create a super-charged buying frenzy. You’ll see merchandise practically fly off the shelf into the hands of eager customers often producing more than a month’s normal volume in a single day.
  • How every last piece of merchandise can be sold until a store is sold out to the bare walls.
  • Why these techniques resulted in more sales and more cash in the pockets of owners than they could have obtained in any other way to include selling their stores as going businesses.

Meet my clients in their stores with sales in progress and see…

  • What they have to say about the results achieved in their stores.
  • How their stores looked before, during, and after their Store Closing Sales.
  • What their customers and employees thought about the sale.

Then go behind the scenes and see how the magic is done…

  • See what’s in the 10 step marketing plan used to design the Store Closing Sale.
  • The scientific methods we use to pinpoint the customers who will buy everything in your store.
  • Our copyrighted programs and materials that build a sense of urgency so customers buy now…no waiting or checking prices elsewhere.
  • Review the 11 tasks that should be accomplished before a sale can begin.
  • Uncover the secrets that pay huge dividends and make sure you sell out to the last piece.

You get all the details in the portfolio of information I’ll send with the DVD…

  • The best way to sell a store.
  • Why advance planning is so important.
  • How to obtain the highest cash return.
  • The support capabilities you’ll need.

You’ll get case histories showing how these methods worked for other retailers. I’ll send written information about the actual results of sales so you can see what returns are possible from starting inventory levels. And, I’ll send letters with all the details from satisfied clients. I want to make sure you completely understand the store closing process so you can make a good decision about what to do with your store now or at some time in the future. If I have your email address I’ll start sending the latest videos of sales in progress by email link.

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NEW video showing how to liquidate an art supply store! You can sell the inventory and other assets of your retail store quickly, safely and for more than can be obtained any other way using the techniques provided by G.A. Wright.

See a Store Closing Sale at Green’s Art Supply. The owner, Matt Cooke, talks about the results he achieved using G.A. Wright to help conduct a professional Going Out of Business Sale. Plus hear about the skills he learned from the process that he will take with him to continue business in another location.

To determine if a Professional Sale makes sense for your retail store, it’s generally helpful to receive more detailed information about G.A. Wright that can be sent via mail or email and will include Case Histories, Letters of Reference from past clients and an explanation of how we work with Retail Businesses.

Full Packet of Information

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