I’m Moving My Warehouse and Need to Sell Inventory Fast. What Do I Do?
Here’s how to sell your inventory when you are closing or moving a warehouse. When it comes to shutting down the warehouse, you will have to act quickly and liquidate excess inventory in your business before the costs get too high. Once you decide to close your business and get rid of all your inventory, you must find the best and most reliable closeout buyers you can.
If you are closing your doors and shutting everything down, you have to work quickly so the debt does not put you in a position where you have to file for bankruptcy. If you have enough money and proceeds from an inventory liquidation, you might have enough to regroup and start another company. Now, you may still find you have excess inventory and closeouts to get rid of from time to time, but at least it will not be the same kind of distressed merchandise sale as when you are shutting down.
Here are your options when moving or closing your warehouse:
1. Sellout everything and start over in a new warehouse. This means you have to completely liquidate the old merchandise from the old warehouse and move everything to a new location. Perhaps you are moving because you are downsizing your warehouse, or maybe you are moving to a 3PL warehouse so you don’t have to deal with.
2. Shut down your business and liquidate everything. This means you will be getting rid of everything in the warehouse for cash, and shutting down the business. Maybe you are retiring and want to sell off all the merchandise, perhaps you are Excess inventory equals wasted money, so you will have to have a going out of business sale and liquidate the entire inventory. Fortunately, there are many ways to sell your inventory if you have decided to shut down your business.
3. Move everything to another warehouse location. In this instance, instead of liquidating your entire inventory you will be moving it to another location. Maybe you grew and ran out of warehouse space and had to move into a larger warehouse location. Or maybe you were tired of having to sell closeouts and overstocks yourself so you are moving to a new 3PL warehouse so they can do it. This type of a warehouse will handle all of your shipments for you for a fee. Keep in mind with this type of warehouse you lose some control since they will be running things for you. Sometimes the old saying “out of sight, out of mind” is true and you won’t see old merchandise piling up. When this happens it is possible to lose sight of all the excess and surplus inventory you may accumulate and before you know it you are losing money by paying for long term storage fees and not turning over your inventory.
4. Downsizing your warehouse. The last option is to move your warehouse and downsize to a smaller warehouse to save money. This is a common move that companies make because when you have a smaller warehouse it is difficult to accumulate slow moving goods and old merchandise that isn’t selling. It’s worth remembering that getting rid of excess stock for even a small amount of money is far better than moving it to your new location and having it sit around accumulating dust and not selling.
Merchandise USA is a wholesale closeout buyer and we are one of the largest liquidators in the United States. We buy excess inventory and help you get rid of unwanted inventory.