In general, liquidation sales are not particularly easy. Much planning goes into any closeout. But in liquidating a smoke shop, there are even more details due to government regulations regarding age restrictions, and additional licenses needed. Smoke shop owners are no doubt familiar with the many age-related regulations for their products in general, but particular attention should be made during a closeout. It is wise to get assistance from those who specialize in planning and executing closeout sales in all facets of the retail world.
Federal Regulations for Sales in a Smoke-Related Business
As anyone in a smoke shop business should know, the federal government has a list of mandatory guidelines. These include the sales of:
- Cigarettes and smoking tobacco
- Chewing tobacco
- Pipe tobacco and Hookahs
- E-cigarettes and ENDS
Any of the above products can only be sold to someone 18 years of age or older. A photo ID must be checked for anyone wanting to buy tobacco products who is under the age of 27. Tobacco products cannot be sold through vending machines except in adult-only, 21 or older, facilities.
In addition, health warning statements must be displayed on the packaging of tobacco products for sale, as well as any advertising of such. When individual tobacco products are sold out of the packaging, such as cigarettes and cigars by the stick, a health warning sign with six required statements must be posted within three inches of every individual cash register.
While following these guidelines is mandatory at all times, particular attention will need to be made to them during the liquidation of a smoke shop. A liquidation sale brings in a lot of customers and the procedures must be followed for every potential sale.
Preparation for a Closing Sale
You need a professional liquidator to help plan this size of sale. That is where GA Wright comes in. The associates of GA Wright each have years of experience in retail and are familiar with federal and state regulations. Some of the pre-planning they will help with includes:
- Signage and displays
- Developing a timeline for markdowns
Call the Liquidation Specialists
No matter how long you have been in the smoke shop business, you have the experience to run the store day-by-day. But, to get the most out of your liquidation sale, it takes the experience of a professional. When you call on GA Wright, a team member within close proximity to your location will contact you. He, or she, will want to learn a lot about your business, your inventory, and the projected timeline in which you wish to close.
Moving forward the GA Wright professional will pay you a visit, view your store, and review your inventory. Through experienced analysis, we can move forward with estimating discounts and when to apply them. All of this is crucial for you to receive the highest net possible from your closing sale.
GA Wright will think through the best advertising route to take providing the nature of the smoke shop industry, the age of your customers, and the area in which your shop operates. We will help not only to move all of your inventory, but your display cases, furnishings, and fixtures, if you so desire.
What to Expect Out of Your Smoke Shop Liquidation Sale
When working with GA Wright, you can expect a busy store through the life of the sale while providing attention to details and regulations. When done, we expect you to have little to nothing left over. You will be able to walk away without any excess inventory to worry about while knowing you have received the best profit-margin possible through the sale.
Please browse our website, read reviews from our clients, and see why we are considered the best liquidation specialists in North America today. From coast to coast throughout the US and Canada, we have helped business owners such as yourself liquidate their businesses and close their doors with more money than they expected.
Ready to liquidate? Contact GA Wright today and let’s get to work planning for you, today!