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Company Yard Sale
A likely source of quick cash could be
sitting right on your shelves. In what is
technically known as capital recovery,
many businesses raise cash by selling
off unwanted assets, such as excess
inventory, obsolete goods, and slow moving
stock that's gathering dust.
While selling such assets may reap
only half of their normal selling price, it
cuts the cost of possession and generates
funds that can be used to boost
sales of more profitable products. In
general, it's best to start by discounting
your normal selling price by 40 to 50
percent. Then drop the price in periodic
"last calls" until everything is sold or
you’re ready to write it off. Here are
some tips:
- Offer a package deal. Combine
unwanted items with fast-moving
goods at a special package price.
- Make a pact with your suppliers.
Push for buy-back provisions. If a vendor
won’t pay you for unsold goods,
ask for credit against future orders.
- Give employees a special deal.
Conduct a sale for employees and
their friends.
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