QUESTIONS & ANSWERS
Q: How
much can I get out of my inventory?
A: Going Out Of Business Sales that utilize DWS’ Retail Liquidation Program have typically generated total sales equal to 100% of total inventory cost (many sales generate over 100%!). The results from your sale may vary. It will depend on your margin; the age, condition and mix of your inventory; your customer base; your location; your competition; the timing of your sale; how well you’ve prepared for, and how much you participate in your sale. After discussing your particular situation, we can give you a more accurate estimate of the results you can expect for your sale. We will send you (at no cost or obligation) an estimated cost breakdown that will include an estimate of your gross profit for each week of your sale. This cost breakdown will also contain an estimate of our fee and your advertising costs. Contact Us Today!
Q: How much will it cost me?
A: DWS’ fee for conducting your Going Out Of Business Sale is determined by your inventory cost and depends on the results of your sale. After discussing your particular situation, we can give you a more accurate estimate of our fee. We will send you (at no cost or obligation) an estimated cost breakdown including an estimate of our fee and your advertising costs. This cost breakdown will also include an estimate of your gross profit for each week of your sale. Know all of your costs before you sign a contract. Contact Us Today!
Q: Will there be a consultant in my store each week?
A: Yes. Your sale will be conducted by an experienced, independent retail management consultant who will work directly with you each week, in your store, to help you plan, implement and manage Your Retail Liquidation Program. Your consultant will have more than 15 years of retail management experience as a previous store owner or store manager. Many of them are former clients. All have extensive experience managing retail liquidation sales. Your consultant will arrive at your store 1 week before your sale begins to help you fine tune and finish the preparations for your sale. He will work with you and your staff until your sale is finished.
Q: Will there be any other costs paid to DWS other than your fee?
A: Only the Opening Day direct mail advertising cost. This cost is part of the advertising budget which will be prepared by your sale consultant and approved by you.
Q: How much do I have to pay DWS before the sale begins?
A: You pay DWS nothing. Your consultant will work for you, on site, for 12 days before you pay DWS anything. To get your sale started, you pay only the Opening Day direct mail advertising postage. You can write a check or you can use a credit card.
Q: How will I pay DWS and when?
A: This is explained, in detail, in our contract with you. To receive a copy of the contract, contact us.
Q: What kind of advertising will my sale use?
A: Your Going Out Of Business Sale will utilize direct mail and newspaper advertising. Your sale may also use T.V. and radio. If you currently utilize the internet to advertise your business, your sale will be advertised there, too. Your consultant will evaluate the advertising media to be used and will discuss options with you before your sale begins.
Q: How long will my Going Out Of Business sale take?
A: Going out of business sales typically take 6 to 12 weeks. It depends on your total inventory cost. If your sale runs too long, your overhead cuts into your profit. If your sale is too quick, the discounts cut into your profit. To receive the maximum return on your inventory, the timing of discounts is crucial. Your consultant will advise you on this timing as your sale progresses.
Q: When is the best time to run my sale?
A: Now may be the best time to run your sale! Timing is crucial! After discussing your unique situation, we can help you determine the best time to run your sale. Contact us, soon!
Q: Do I need to close my store to prepare for my sale? If so, how long?
A: It depends on how ready you and your store are when your consultant arrives. To maximize your sales and avoid problems, you must be prepared! We cannot emphasize this enough! We will advise you on what to do as soon as your sale is scheduled. Your consultant will arrive at your store 1 week before your sale begins to help you fine tune and finish your preparations. We recommend that you close your store 1 or 2 days prior to the Opening Day of your sale to make sure that everything is ready.
Q: Will I have to put sale price tags on all of my merchandise?
A: No! Since your merchandise is already marked with a regular price, your sale will use DWS’ “Sale Price Charts”. These charts will be positioned throughout your store within easy reach of all of your merchandise. This will allow your customers to quickly and easily determine the percentage discount and actual sale price of each item in your store. DWS’ “Sale Price Charts” will save you the time, money, manpower and hassle that would be required to tag and re-tag your merchandise each time your discount changes.
Q: How many employees will I need for my sale?
A: Depending on how many employees you already have on staff, extra help may be needed for the first few days of your sale. We will advise you on this when your sale is scheduled.
Q: When should I tell my employees that I’m having a Going Out Of Business Sale?
A: We recommend that you inform your employees 5 to 10 days before your consultant arrives. In addition, we will advise you on how to retain your employees for the duration of your sale, and we will put you in contact with a federal program that can assist you and your employees in retraining and finding other employment.
Q: When should I stop ordering merchandise?
A: Before your sale begins, we recommend that you continue to order your everyday selling items. Once your sale is scheduled, we can advise you on how you can make more money during your sale by purchasing off-price merchandise.
Q: How much will I spend on advertising?
A: The national average of advertising costs for going out of business sales is 4% to 8% of the projected sales. Your sale’s advertising costs will average 2% to 6% of your projected sales. Your consultant will prepare an advertising budget for your approval before your sale begins. Your consultant will also work directly with your advertising representatives, write all ad copy, and will provide all camera-ready artwork at no extra cost to you.
Q: What will I do with the merchandise that is left?
A: By using DWS’ Retail Liquidation Program, very little, if anything, is left.
Q: How will I sell my fixtures?
A: Your sale will utilize a very effective direct mail advertising program to help you sell your fixtures and equipment. This service (a $1,500 value) will be provided by DWS at no extra cost to you. In addition, your consultant will help you list, price, advertise and sell your fixtures and equipment. In many previous sales, the money generated from the sale of fixtures and equipment has paid for DWS’ fee.
Q: What should I tell my creditors?
A: We will provide “Accounts Payable” form letters that you can use to inform your creditors of your intentions. In addition, we can put you in contact with a company that can significantly reduce your vendor debt.
Q: How should I handle my accounts receivable?
A: We will provide “Accounts Receivable” form letters that you can use to inform your receivable accounts of your intentions and to collect past due accounts.
Q: Do I need a permit or license to run a Going Out Of Business Sale?
A: Some towns, counties and states require a permit and some do not. In some cases, you may need to apply for and/or receive a permit 10 to 30 days prior to starting your sale. We will help you with that process.
Q: Is DWS endorsed by any regional or national retail associations?
A: DWS does not pay for endorsements. We are endorsed by store owners whose endorsements we have earned...the best way to get an endorsement. If you would like to receive a list of satisfied store owners that endorse DWS, contact us.
Q: How much lead time will DWS need to prepare for my sale?
A: We need, at the very least, 10 days to 2 weeks before your sale begins. Ideally, we would like to have as much as 3 to 4 weeks, or more! Having ample time to prepare will ensure that Your Going Out of Business Sale is a great success! Contact us, soon!
Q: How can I be sure that DWS Retail Sales’ “Retail Liquidation Program” is the right choice for me?
A: Don’t take our word for it. Read the testimonials of retailers, like you, that we have already helped. At your request, we will provide you with their names and phone numbers so that you may speak with them directly.
Q: What if I have more questions?
A: You can call us or e-mail us and we will gladly answer all of your questions and address any concerns that you may have. We want to give you all of the information that you need to make the right choice for you. We look forward to helping you make Your Retail Liquidation Sale a Great Success!!
A: Going Out Of Business Sales that utilize DWS’ Retail Liquidation Program have typically generated total sales equal to 100% of total inventory cost (many sales generate over 100%!). The results from your sale may vary. It will depend on your margin; the age, condition and mix of your inventory; your customer base; your location; your competition; the timing of your sale; how well you’ve prepared for, and how much you participate in your sale. After discussing your particular situation, we can give you a more accurate estimate of the results you can expect for your sale. We will send you (at no cost or obligation) an estimated cost breakdown that will include an estimate of your gross profit for each week of your sale. This cost breakdown will also contain an estimate of our fee and your advertising costs. Contact Us Today!
Q: How much will it cost me?
A: DWS’ fee for conducting your Going Out Of Business Sale is determined by your inventory cost and depends on the results of your sale. After discussing your particular situation, we can give you a more accurate estimate of our fee. We will send you (at no cost or obligation) an estimated cost breakdown including an estimate of our fee and your advertising costs. This cost breakdown will also include an estimate of your gross profit for each week of your sale. Know all of your costs before you sign a contract. Contact Us Today!
Q: Will there be a consultant in my store each week?
A: Yes. Your sale will be conducted by an experienced, independent retail management consultant who will work directly with you each week, in your store, to help you plan, implement and manage Your Retail Liquidation Program. Your consultant will have more than 15 years of retail management experience as a previous store owner or store manager. Many of them are former clients. All have extensive experience managing retail liquidation sales. Your consultant will arrive at your store 1 week before your sale begins to help you fine tune and finish the preparations for your sale. He will work with you and your staff until your sale is finished.
Q: Will there be any other costs paid to DWS other than your fee?
A: Only the Opening Day direct mail advertising cost. This cost is part of the advertising budget which will be prepared by your sale consultant and approved by you.
Q: How much do I have to pay DWS before the sale begins?
A: You pay DWS nothing. Your consultant will work for you, on site, for 12 days before you pay DWS anything. To get your sale started, you pay only the Opening Day direct mail advertising postage. You can write a check or you can use a credit card.
Q: How will I pay DWS and when?
A: This is explained, in detail, in our contract with you. To receive a copy of the contract, contact us.
Q: What kind of advertising will my sale use?
A: Your Going Out Of Business Sale will utilize direct mail and newspaper advertising. Your sale may also use T.V. and radio. If you currently utilize the internet to advertise your business, your sale will be advertised there, too. Your consultant will evaluate the advertising media to be used and will discuss options with you before your sale begins.
Q: How long will my Going Out Of Business sale take?
A: Going out of business sales typically take 6 to 12 weeks. It depends on your total inventory cost. If your sale runs too long, your overhead cuts into your profit. If your sale is too quick, the discounts cut into your profit. To receive the maximum return on your inventory, the timing of discounts is crucial. Your consultant will advise you on this timing as your sale progresses.
Q: When is the best time to run my sale?
A: Now may be the best time to run your sale! Timing is crucial! After discussing your unique situation, we can help you determine the best time to run your sale. Contact us, soon!
Q: Do I need to close my store to prepare for my sale? If so, how long?
A: It depends on how ready you and your store are when your consultant arrives. To maximize your sales and avoid problems, you must be prepared! We cannot emphasize this enough! We will advise you on what to do as soon as your sale is scheduled. Your consultant will arrive at your store 1 week before your sale begins to help you fine tune and finish your preparations. We recommend that you close your store 1 or 2 days prior to the Opening Day of your sale to make sure that everything is ready.
Q: Will I have to put sale price tags on all of my merchandise?
A: No! Since your merchandise is already marked with a regular price, your sale will use DWS’ “Sale Price Charts”. These charts will be positioned throughout your store within easy reach of all of your merchandise. This will allow your customers to quickly and easily determine the percentage discount and actual sale price of each item in your store. DWS’ “Sale Price Charts” will save you the time, money, manpower and hassle that would be required to tag and re-tag your merchandise each time your discount changes.
Q: How many employees will I need for my sale?
A: Depending on how many employees you already have on staff, extra help may be needed for the first few days of your sale. We will advise you on this when your sale is scheduled.
Q: When should I tell my employees that I’m having a Going Out Of Business Sale?
A: We recommend that you inform your employees 5 to 10 days before your consultant arrives. In addition, we will advise you on how to retain your employees for the duration of your sale, and we will put you in contact with a federal program that can assist you and your employees in retraining and finding other employment.
Q: When should I stop ordering merchandise?
A: Before your sale begins, we recommend that you continue to order your everyday selling items. Once your sale is scheduled, we can advise you on how you can make more money during your sale by purchasing off-price merchandise.
Q: How much will I spend on advertising?
A: The national average of advertising costs for going out of business sales is 4% to 8% of the projected sales. Your sale’s advertising costs will average 2% to 6% of your projected sales. Your consultant will prepare an advertising budget for your approval before your sale begins. Your consultant will also work directly with your advertising representatives, write all ad copy, and will provide all camera-ready artwork at no extra cost to you.
Q: What will I do with the merchandise that is left?
A: By using DWS’ Retail Liquidation Program, very little, if anything, is left.
Q: How will I sell my fixtures?
A: Your sale will utilize a very effective direct mail advertising program to help you sell your fixtures and equipment. This service (a $1,500 value) will be provided by DWS at no extra cost to you. In addition, your consultant will help you list, price, advertise and sell your fixtures and equipment. In many previous sales, the money generated from the sale of fixtures and equipment has paid for DWS’ fee.
Q: What should I tell my creditors?
A: We will provide “Accounts Payable” form letters that you can use to inform your creditors of your intentions. In addition, we can put you in contact with a company that can significantly reduce your vendor debt.
Q: How should I handle my accounts receivable?
A: We will provide “Accounts Receivable” form letters that you can use to inform your receivable accounts of your intentions and to collect past due accounts.
Q: Do I need a permit or license to run a Going Out Of Business Sale?
A: Some towns, counties and states require a permit and some do not. In some cases, you may need to apply for and/or receive a permit 10 to 30 days prior to starting your sale. We will help you with that process.
Q: Is DWS endorsed by any regional or national retail associations?
A: DWS does not pay for endorsements. We are endorsed by store owners whose endorsements we have earned...the best way to get an endorsement. If you would like to receive a list of satisfied store owners that endorse DWS, contact us.
Q: How much lead time will DWS need to prepare for my sale?
A: We need, at the very least, 10 days to 2 weeks before your sale begins. Ideally, we would like to have as much as 3 to 4 weeks, or more! Having ample time to prepare will ensure that Your Going Out of Business Sale is a great success! Contact us, soon!
Q: How can I be sure that DWS Retail Sales’ “Retail Liquidation Program” is the right choice for me?
A: Don’t take our word for it. Read the testimonials of retailers, like you, that we have already helped. At your request, we will provide you with their names and phone numbers so that you may speak with them directly.
Q: What if I have more questions?
A: You can call us or e-mail us and we will gladly answer all of your questions and address any concerns that you may have. We want to give you all of the information that you need to make the right choice for you. We look forward to helping you make Your Retail Liquidation Sale a Great Success!!
