Frequently Asked Questions for Excess stock
How do I sell my excess stock?
Excess stock needs to be sold quickly to free up cash flow. I can understand that you are naturally keen to move your excess stock as quickly as possible for the maximum price. You also want to make sure that your brand is not tarnished and you can continue to sell your other products at regular prices.
Selling excess stock for us is a focussed process. There are a specific sequence of steps that we follow to gain the best result. Let me run you through our proven four-step process:
Step One – arrange for the excess stock to be formatted in a professional email template
Why do you need to do this?
Trust is the most important factor in buying and selling excess stocks. If the product is not presented in a professional format, your prospective buyers will not trust that the product will perform as advertised. This means that they won’t make an offer for your product.
Step Two – create a convincing email template description
Why do you need to do this?
The people who are potentially buyers of your excess stock are extremely busy. The average department store Purchasing Manager receives 200 to 300 emails per day, with every man and his dog trying to sell them parcels just like yours. To get their attention, you need to think like an advertiser and write a compelling sales message. This is referred to as copywriting. If you just send a Purchasing Manager a photo of your stock and a price, chances are they won’t even know you exist.
Step Three – perform some discreet market research to understand the current market conditions
Why do you need to do this?
You need to speak with a variety of people, in different states, to find out what is happening in the market. This helps you to find out if the price varies across state boundaries. There are a lot of reasons why people might not buy your excess stock line. One buyer might say the market is lousy, another buyer might not have any space left in your category, another buyer might like your product but their manager wont approve it. Another buyer might keep you hanging for two weeks, and then say that they are not interested.
In my twenty years of experience, I can safely say that I have seen everything (at least twice!)
Step Four – use the highest level of caution and discretion when approaching potential excess stock buyers
Remember, protecting your brand’s reputation is always the most important goal. You might want to restrict where your product can be sold. You might want to ensure that your product is not mass marketed to your regular buyers. You might want to repackage your product in different labelling to maintain your brands integrity in the market. Keep all of this in mind when approaching potential excess stock buyers
If you mix up the order of these steps, or if you miss any of these steps, it is almost certain that you will receive a dramatically lower price than you hoped for, if you receive an offer at all.
As you can see, this is a complex process. My company has been buying and selling excess stock for over 20 years. We can manage the whole process for you from start to finish. When you work with Coorey and Co, we professionally design your product’s email template, write a compelling sales message and discreetly approach the market.
Shortly after that, we will provide you with a report on the state of the market, the price we believe it will sell for and how long it will take to sell.
In most cases, after we present you with the report, we then make you an offer to buy your whole excess stock parcel. If this is not possible, we will provide you with specialist advice on the best way to sell your excess stock at the maximum price in the fastest possible time.
If you would like to use our service, please let us know and we will get started straight away. Click here to tell us about your excess stock.
Author: John Coorey
Managing Director
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