Most people love a bargain. They love the idea of being able to get a deal on something. Anything. This is the main reason companies have warehouse sales and tent sales that are open to the public. It is possibly the best way to sell closeouts and liquidate excess inventory. It is even better than selling to liquidation companies for two reasons: 1. You can sell for much higher prices at a warehouse sale. 2. You will develop a loyal customer fan base that will look forward to your next sale. There are 3 different kinds of warehouse sales, but they are all equally effective ways to sell excess inventory.
Warehouse Sale. First, you have your basic warehouse sale. Open up a section of the warehouse by clearing out all your old stock and creating a clean, empty space. This can be as small as 500 square feet and as much as 50,000 square feet, depending on how much space you need to sell excess inventory. If you are a smaller company with a limited line, you may only need a small space. But if you are a National distributor with a large inventory of products, you may have a lot of closeouts which will require more room. If this section of the warehouse has it’s own entrance and exit it will work perfectly, because people will not have to walk through your office or showroom to get in and out. You can hire as few or many people to work the sale, and you can use registers or shoe boxes for money, as long as you can keep track of it and manage your sales tax responsibilities.
Parking Lot Sale. Second, you have your parking lot sale. This is easier on one hand because the space is already empty as long as you keep cars off the lot. On the other hand, it can be more challenging from a logistical perspective because you have to bring all the closeouts out in the morning, then bring everything back inside at the end of the day. There are some liquidation companies who have warehouse sales on a regular basis so they may pay an employee to sit outside at night and leave all the merchandise. This is an option if you have such a large sale that you don’t want to bring everything back inside each day.
Tent Sale Open To The Public. The Third kind of sale is a hybrid sale; it is an outside parking lot sale but it is held inside a temporary tent. This offers the best of both worlds and is probably the best option for you to liquidate excess inventory. One of the nice things about a tent sale is you don’t have to worry about what to do if it rains, if it’s too windy, sunny, hot, etc. You can sell excess inventory all day and even into the night, regardless of what the weather does. The merchandise will all be secured, so you don’t have to move everything back inside at the end of the day, and customers still get to enjoy that special “treasure hunt” experience where they feel like they are getting a real bargain.
These options may not be as quick and stress free as selling closeouts to liquidation companies, but any of the above methods will certainly be more profitable, and they are all very effective ways to liquidate excess inventory that may otherwise just be sitting in the warehouse taking up valuable space.