Retail businesses are feeling the weight of surging prices, a supply chain crisis
For almost two years now I’ve been wondering what kind of impact the “pandemic” had on retailers, and businesses as a whole…
because in early 2020 I had several clients asking me what to expect with their pending store closing sales…
I didn’t know what to tell them because I had never been through something like this before.
So my best retail advice to them was simply, “Let’s just trust the system I’ve been using for almost 20 years and make adjustments along the way”.
Well, it turned out to be sage advice because their sales all went as good (if not better) than any of the other sales I’ve helped my clients with since 2000!
But now…
almost two years later things are, well…different!
From supply chain issues and businesses not being able to get inventory to sell, some successful retailers even closing.
to ecommerce taking a HUGE leap in sales because people got so used to buying online during the pandemic…
to employees not wanting to work anymore because they can earn more money from home.
And the list goes on and on and on.
Goldman Sachs claims America’s “little guy” is ‘hurting bad’. Meaning people just like you and your business!
A new survey shows small businesses in the US are feeling the weight of surging prices, a supply chain crisis and pandemic policies…
Goldman Sachs surveyed almost 1,500 small businesses, and here was the results:
- 76% say inflation has hit the financial health of their retail businesses in six months.
- Both consumer and producer price inflation have hit multi-decade highs recently.
- Consumer Price Index jumped 7% in 12 months, the fastest increase since 1982. While PPI surged 9.7% – levels not seen since 2010.
Why am I sharing this with you?
Simple. Because you may be feeling the pinch of all this as well and considering your options.
Look, I spend hours every week talking to retailers just like you who – regardless of their reasons – are considering their options for getting out of business.
Some people are feeling the current crunch, while others have managed to figure out a way to stay in the black and even thrive!!
From 20+ years of experience I can candidly share with you that conducting a well facilitated retail sale is going to produce FAR more profit for you than selling as an ongoing business…
and without the headache (and lots of wasted time) of trying to find a qualified store buyer. And don’t forget that if your sales have been declining or stagnant, then it will be even more difficult.
I’ve helped independent retailers of all sizes…
some with one location, many with multiple locations.
The one thing they all had in common?
They wanted PROFIT, and they wanted to walk away with their heads held high.
So if you’re wondering if a store closing sale can work for you, then just take a look at what some of my past clients have had to say about working with me.
Personally, I think there is light at the end of the tunnel with regards to everything we as a country have been through over the past two years…
BUT…
I also understand that EVERY small business, every retailer has a lifecycle.
EVERY. SINGLE. SMALL BUSINESS.
There comes the day -whether it be retirement, declining sales, property becomes worth more than the business, or any number of other things-that businesses come to the end of their lifecycle.
And when you get to that point you start assessing options.
I’m not saying that a store closing sale is what you want…
I’m just saying that a store closing sale is (by FAR) your most profitable option that can get you the desired results in a handful of weeks without the headache of trying to find a qualified buyer.