What To Do With Extra Stock, Unused & Out Of Date Inventory Items
Written By: admin
Many companies run into a problem where their back storage rooms become piled to the ceiling of extras. They may have extra product back there, display racks, advertising, tables & chairs, returned merchandise, out of style or out of date inventory and much more. This is money that is just sitting in a room and doing nothing for you. Most businesses owners don’t realize that even though that back room may not be much to them anymore, there still is value in that stuff to someone. That’s why selling or liquidating those items are what every business owner needs to do and we’re going to talk about a couple different ways to turn those items into cash!
We all know that commercial space isn’t cheap. Think of the space you’re taking up with all that unwanted stuff that you just have been gathering. How much space does it really take up? Probably more than you think. Look at it this way. If you have a 1500 sq foot building and you’re paying $15 a sq foot, per year. That means your monthly rent is $1875. Now let’s say that stuff you have laying around is taking up even a small space. Let’s say 50 sq ft (5ft x 5ft area). That storage is costing you approximately $62.50 a month based off the price you’re paying per square foot. May not seem like a lot right? After a year that “stuff” has cost you an extra $750! Now wouldn’t you be better off selling that stuff and instead of paying $750 to store it, getting an extra $750 in your pocket?
You may be thinking to yourself, “I have way too much going on right now to worry about making a few dollars on that stuff back there.” I hear that all the time. What if I could tell you though, that it was as easy as making a phone call or writing an email? Would you pick up the phone or send an email to make a couple hundred bucks or more? I know I sure would. That’s why business owners need to get in gear and get those items or merchandise out of there stores and recoup whatever cost they have into those items.
There are a couple different ways to get rid of that stuff easily and put that money back into your pockets. The first one is calling an auction house. Auction houses are great to move small or large quantities of merchandise fast. Most will come pick the stuff up from you, sell it, and then write you a check for your proceeds. You don’t have to move a thing! Another way to get rid of the merchandize is to call a local liquidator. What they do is come in and offers you a price to buy everything outright. They hand you a check and you’re on your way. A third way to get rid of the stuff, is to have a sale right at your own building. Have a couple employees set the stuff up in your store or outside. Have them price it, put a free ad in the newspaper or an online classified site and watch the money roll in.
The point I’m trying to make is its better to get rid of the stuff sooner than later. No one wants to store things for years just to throw it away. So why not turn that stuff into money that can be used for new stuff for your business. No matter how good your business is doing, everyone can use a little extra cash in their pockets.
About the author: ACM Auctions & Estate Sales is located in the Detroit, Michigan area. They specialize in antiques, collectibles, memorabilia, online auctions, estate sales, liquidations and more. They know the world of auctions and strive to provide knowledge to everyone. You can find out more about them at ACM Auctions & Estate Sales
Image credit: zimpenfish on Flickr