15 Ways to Get Rid of Old

15 ways to get rid of old inventory:

Inventory over a year old is the killer of a jewelry store. You only have 12 months to sell it and make a profit. Any profit after a year is not really profit. Why?

 

Because of your investment. If you invest $100 in a ring on January 1st, 2007, you're going to LEAVE the investment itself in the case until you sell the store. Looking at keystone, that January 2007 investment of $100 should bring in $200 in sales (thus $100 in profit) every year until you retire. If it sells in December of 2007, you've made your $100 of profit. Do you take the cost of the ring out of the store or leave it and buy another item?

 

You buy another and THAT $100 ring should bring in another $100 in profit in 2008 and on and on we go.

If that ring is doesn't sell in 2007 or 2008, guess what? It owes you now $200 in lost profits. So if you sell this ring in December 2009 (its 3 years old now), it should sell for $400 not $200. It should give you back your investment (the original cost of $100) plus the profit of:

2007   Profit = $100
2008   Profit = $100
2009   Profit = $100
Total Profit we should have received over 3 years = $300

Therefore the ring has to sell for:

Cost:      $100

3 years of profits owed to us:  $300

Ring needs to sell for $400.

Can you double the price of a dog?

NO!

Get rid of it.

 

Attached below print, read and act upon

15 Ways to Get Rid of Old Inventory

David Geller

Director of Profit

15 Ways to Get Rid of Old Inventory-Newly Updated!

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15_New_Ways_to_Get_Rid_of_Old_Inventory_July_2010.pdf