Losing Your Business
There’s an old story about losing your business in the advertising business. It is about a man who ran a hot dog stand. He did really well selling his hot dogs. One day, a customer mentioned, while adding mustard to his hot dog, that he felt there was an economic downturn looming.
Recipe for Disaster
The hot dog stand owner decided he’d better prepare for the worst so he immediately fired his helper, switched to lower quality wieners and stopped advertising. Sure enough, business dropped off and he finally had to close down. “It’s a good thing I was prepared,” said the hot dog stand owner, as he signed his bankruptcy documents.
The fact is, that when times become tough, the first thing many business owners do is stop marketing, and lay off staff. This most likely means there will be fewer customers coming in and fewer people to serve the ones that do show up—a good recipe for disaster.
Doom & Gloom News
There is a lot of retail doom and gloom news every day about the state of the retail industry. Large chains closing hundreds of stores. Huge regional malls closing. Local retailers closing up shop.
My advice to independent retailers that might be considering retiring or closing their store is to make sure you are running your store everyday as if it were going to go on for years to come. When you make the decision to have a store closing sale do it quickly and in a positive manner.
Store Closing Sale Advice
Your store closing sale should come as a complete shock to your customers. Many of my clients have said that the toughest part of their store closing was to finally make the decision to close. After that with a good plan in hand, it was much easier to close their business.
Putting off the decision to close your business in many cases shows up in how you conduct business on a daily basis. While in the process of making the decision to have a store closing sale be sure and talk with a Store Closing Consultant. They can advise you on how to have a successful store closing sale. Call Chuck today at 1 (520) 305-9693.
See our plans to help you with your store closing sales here.