A clearance sale will help turn inventory into profit.
According to a 2010 Associated Press poll, a person shopping for a dog is seven times more likely to get the dog from a shelter instead of a pet store. An educated public is increasingly refusing to do business with puppy mills, and the weakened economy has caused pet stores to close because consumers are spending less. Closing a retail pet store is a little more challenging than closing an ordinary retail store, where live animals are not a consideration.
Instructions
1. 7 out of 10 people seeking a dog will go to a shelter instead of a pet store.
Determine how much of your inventory you must sell or donate at least three months prior to shutting down. By this time, you will have stopped ordering more inventory and will begin liquidating any remaining inventory by the last day that your store is open. Categorize your inventory as items you can sell, items for donation and live animals.
The inventory you will be selling should be further categorized into top-sellers that will be great bargains, old, outdated or boring products that won't move as quickly and merchandise that you may be able to return to the distributor for a refund.
2. Order clearance signs and banners announcing your store's closing from a local print shop or office supply store. Order enough clearance signs for all of the displays in your shop, because getting your inventory down as much as possible before closing is key. Hang your banners and signs as soon as you get them, as almost a quarter of your store traffic will come from shoppers who saw an eye-catching window sign or banner.
3. Write a press release to alert the media of your impending closing as soon as you have made the decision to close. Getting this information out to the public will help get you more customers for your clearance sales. Plan on making several price reductions throughout the sale, but don't start the reductions too high or too soon. In order to set your prices, consider hiring a professional store closer who will assist you with pricing.
4. Contact breed-specific rescue organizations in your area to see if you will be able to bring any dogs, cats or other companion animals to their shelter. Breed-specific rescue organizations are an especially good resource for purebred or crossbred dogs, as they most likely have a waiting list and are usually happy to take in a young dog of their breed. Disclose any health problems the pets may have.
Contact any local goldfish, parakeet, hamster or ferret clubs in the area that may take these pets into their adoption program.
5. Call other pet stores in the area to gauge interest in taking over your inventory of other animals such as lizards, rats, hamsters, turtles, fish and birds at a wholesale price. For more exotic species, contact your local wildlife rehabilitation organization or Fish and Game Commission and ask for a recommendation. Follow the advice of the wildlife rehabilitation specialist on safely place each of these species.
6. Consider donating any pet supplies, pet equipment, food or other items that cannot be returned to the warehouse. Local rescue organizations and Humane Societies welcome food, equipment and supplies donations. However, be sure that the organization you select is a 501(c)(3) non-profit organization to ensure your donation is tax-deductible.
Tags: your inventory, rescue organizations, your store, clearance signs, instead store, inventory will, live animals