Summer 2024 Warehouse Sale Part 2 - We Started on a Saturday!
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- Опубликовано: 9 сен 2024
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I don’t care what anyone says…we are in a recession. People are spending money differently than the past 3-4 years. The first people to feel it are usually small businesses since we operate on a thin line of profit. I’ve definitely been feeling the change in my business this year. Chin up and keep coming up with goals and ideas. It’s all part of the game.
I bet when the sales are less frequent they will feel like more of a special event and more folks will turn out for the deals
Nice weather may also impact your volume flow of customers. So summer sales also are likely impacted by vacations & other plans of potential customers.
As a theoretical customer I'd attend a sale for $10 (because there are usually some really expensive items being sold cheaply), then $5 day (because they're often useful items or things I've been wanting or can gift). I might even go to multiple $5, although probably not two days in a row. And then I'd got to $1 day, if there wasn't a bag day. In general, the prices are very easy to keep track of in my head so I'm inclined to spend my limit and not cheat lower to account for math mistakes. Maybe something like $10 day - day off to reset - $5 day - $5 day - &5 day - day off to reset - $1 day - bag day, might work?
3 warehouse sales a year:
Springtime for spring/summer items.
Autumn for fall/winter.
A dedicated christmas sale
You could do one "picker" sale a year for all of your secondhand/storage unit/ vintage items that you don't want to auction.
Start with a $5 day, then a $3 or $2.50 day, a dollar day, and finish with a bag day. Have a special buy (over $10) AND a $10 section for the whole sale.
The economy is getting bad. You may do well focusing on consumables and basic household items. People will buy those things at even a small discount. Good luck!
Have you ever watched The Texan Picker? He goes to the wealthy neighborhoods and then resales. I can't believe what people throw away! He sales on FB, Antique Booth, Ebay etc. Praying sales pickup for you.
Economy crapping out, retail sales have been flat to negative with inflation removed since early 2022.
consider having a local radio station do a live broadcast from your location on a saturday
don't think me and the wife have missed a sale yet in the past couple of years we enjoy what we find and enjoy the deal we get on them
I think reducing the cost of the items multiple times a day in the sale would create actual scarcity, say every 2 hours the price drops a $1. From a buyers perspective no matter when you come you are getting a good deal, just by the price structure more people will come. Start at 11 dollars down to 8 the first day, 7 down to 4 the second day, 3 down to fill a bag the 3rd day. If it was condensed like that you would be guaranteed customers shopping at all parts of the day, while having many people coming back multiple times a day.
Your sales are down due to the economy, next year will be better, hang in there.
Only if the right person wins the election.
What if you do monthly drops of mystery boxes....you build and sell them.
You are also competing against all these bins stores now. Which is pulling clientele away.
You should also consider a compact sale format. 3 or 4 day sale only. Tag it all and potentially have % discounts each day... maybe set up a larger area in your warehouse.
Scaling it down sounds like a good idea. I remember your video where you generated 10k selling everything for $1, you probably netted $8k or $7k since it was all in the green by the time it sold. Now you’re generating $35k or $40k and netting $5k. More storage units and those weekend $1 sales could be more profitable than the way things are currently
Maybe retire the Delta airlines cap and cancellations of customers 🤦🏻♂️
Try to find out what week people get paid at their jobs and run your sale on the Friday ,Saturday and Sunday after payday. I’ve have successfully used this timing technique when I sell merchandise on MP. My sales are always surprise me all of the time.
I thought of reducing the day 1 buy-in. I think the average consumer doesn't see $10 as value, even though it is.
Smart move to cut back if the numbers aren’t there and to stick to the holiday season for your future sales.
Have an occasional weekend "Flash Sale". It is something different, and consumers like different.
Maybe people have finally realized everything gets cheaper at the end of the week and are prepared to wait even if they miss out
I would also consider a special-buy only sale, particularly with a theme. For example, building materials and tools. If properly advertised, contractors and handymen would should show up and buy a lot of stuff.
I think reducing the price twice a day would get people excited to come at midday when your sales seem to slump. 1st day 10$ then after lunch until close do 6$. Second day 4$ then after lunch until close do 2$. Third day start at 1$ then end on fill a bag. That way mid day there is a rush again, not just opening. Creates excitement to get better deals before other people! The more they buy, while at the same time you are getting rid of your inventory much faster.
I feel like things are tight for most people right now. Credit card debt is high. It’s the economy. What you offer on $10 day are more luxury type items, whereas your $5 and lower days offer merchandise that are staples and necessities for a lower price. That and the more sales you have, the less special they seem. Fewer sales and lower priced items are the way to go.
I like the ideas of reducing the number of sales. It creates more anticipation. This would be a difficult time of year..so many on vacation and a tough and uncertain economy. My suggestions would be to skyrocket ebay to increase cash flow and look at cross listing to other sites. Having two people at least Ebay focused, one doing pictures and listing and the other doing shipping would be good. For the warehouse sales, I think you need to find your market. Do you have the same people coming in or do you see new people? A really good marketing campaign might be helpful. You mentioned a few videos ago about emails from sales. I think it would be great to reach out to customers and maybe offer a "coupon" for the Fall sale. People love a deal. Maybe try putting out flyers at a flea market, or by direct flyer mail for the local area. You know the dates for the Fall and Christmas sales now, so start a strong marketing campaign. You have great product you just need to bring in customers. Keep up the great work!
He could try a coupon with the flyer.
That's the worst thing they could do
I'm sure someone has said it but whatnot would be a heck of a way to move a ton of merch easy.
Have you considered using your space for craft/vendor sales and shows for months you don’t have a warehouse sale? Those can be cash cows for people with space…a little upfront work of contract handling and advertising but little event work or expense because the vendors handle set up, sales, tear down. You just get to collect the rent!
the are is used for the auctions normally
His liability insurance would probably go up and he would have to open up the bathroom for the vendors to use, creating more work and mess.
I think you should cut back on the amount of warehouse sales you have, concentrate on Sales around the Holidays, getting inventory of items that people are wanting to purchase. I most certainly love watching your videos, and have made purchases of items that I show interest in.
I know exactly what you mean with the alarm sound story. As a firefighter, I have alerts setup on my phone for when calls for service come in. I become very alert whenever I hear the same sound I have setup on my phone from someone else's phone.
I work with a few former firefighters with the Red Cross. They all have blaring alarm sounds for their dispatch ring tones lol
(Espresso powder is the instant stuff, or a really fine grind. If I saw big bags of whole bean espresso roast, it would be a clean shelf and you wouldn't see me for dust!) I thiink doing fewer sales would help - create anticipation. Summer is a tough time; schools are out, vacations happen,etc. Household necessities have gone crazy price-wise, so sales of those that are real sales might draw crowds. The special buy stuff...eh. It makes sense to only sell items you effectively have no money in. Then you can roll the profits into something else.
I would drop sales to 4 days ($5, $3, $1 & bag day) with higher value items marked at your goal price for day 1 & 2, and a price drop for day 3 & 4. And do Thursday through Sunday.
I would also look into Whatnot auctions. Sellers seem to do a good job of sales on that. Maybe do sales every couple of weeks on Whatnot. You could do 2-3 over a few days. And sell lots on there. Train a current employee to do those sales and shipping only.
Why not incorporate a live “auction” on the first day and maybe even last day of the sale (ending with one to clear out the no sale items in bulk)?
Generate a reason for customers to show up. Have bounce houses for the kids, free snow cones, tractor rides around the parking lot etc. Make coming to the sale/auction an event instead as opposed to just a sale.
Install a keypad doorknob on the bathroom door.
I'm very sad 🥺... I LOVE your warehouse sale videos!! I hope whatever you do next (and I'm trying to come up with an idea 🤔) it's as much fun as the warehouse and pallet sales!! 🤞🍀🧧🥰🥰
I appreciated the talking head portion of this video. As a fledgling entrepreneur I found it very informational.
I thknk your days about $5 are likely missing the market of people who would come in for this stuff. At that level, you are starting to get into what for some people is a notable amount of money per item. If you can get $10 for something great, but if you can get $5 for it through auction you are probably making more anyway.
I also think that you have taken the "special" out of these sales. When they happen too often, perhaps you have worn out the buyers. Christmas, spring, and back to school time is about all you need. Keep the number of days reasonable (say Thursday to Sunday) and call it done. Make sure you market the sale as being short, on point, and so on.
For what it's worth, you have the data, so you can go back and see what people are actually buying in the sales. I seem to remember toys doing well, makeup / beauty doing well, and so on. Stuff that has a very high retail price but a much lower cost to you. Keep focused.
When I think back too, you were doing much better on these sales when you were buying store closeouts, and things like pharmacy end of stocks / season closeouts. I think your current pallet miz may be making your more money in other places, but it is landing you heavy into the special buy items, but it leaving your sale a little thing on the regular buy items. I think you are probably making more money elsewhere as a result. More of what you have coming in is either "ebay" or "almost ebay" with a higher cost per piece. That may be part of what you are seeing.
Ok
3 sales a year Spring late March ; trying to capture Easter Mother’s Day etc ; late summer autumn- late September to capture Halloween, winter merchandise and early Christmas purchasers; late Oct / early Nov for Christmas
Like the idea of starting lower price utilising special buy and auctions EBay to catch the higher priced options BUT I’d start at $5 not $6 Five dollars is a good marketable sum - $6 is weird
$10k for payroll per sale ?for what about 2 weeks for prep and sale ?? surely not
As for size of building - big as you need it for sales - if you had 3 a year could that have a positive effect on the size of the unit ie scale it down ? Or if you are doubling auctions a week will you still need that space ?
Other uses for space - farmers market ? Craft fair ? Regular venue for yoga; theatre groups: art classes ?
I feel bad for you John. I think it sucks that everyone are having hard times and business's are closing up. Hugs from Canada guys
The espresso-guy, wasn't wrong. Espresso is a finely ground coffee beans, made by pressurizing water through the coffee. Ergo beans can't be espresso.
What about doing sales on whatnot. You have the following.
If you get rid of the warehouse sales then they will definitely be missed. I hope you are able to get some good sales in the rest of sales this year. Definitely think on stuff and I'm sure you will find a solution.
I've started doing shows more and more now so I can't have all online items there because bag clips and magnets and stuff I get for dollar or two but sells for 10-40 dollars each, seriously 40 bucks for a two inch bag clip. An entire shelf is now full of two dollar hot wheels, 7 dollar action figures, various this and that stuff I don't see value online but great 2-7 dollar table filler hook items to that are essentially free with them being leftovers from lot buys after the crazy stuff is selling online. This summer that's been very successful for me with low price in person sales while ebay chugs the volume of bread and butter with occasional two or three 70 dollar plus items a month.
So people love cheap in current climate is what I honestly think but then again I'm in the collectibles market more than industrial and homegoods like you do.
You should covert to a bin store/bag store. Create more excitement around the unknown
All our garage sales do best on Thurs and Fri! Indeed! Thanks!
People just have less disposable income. People need to buy food, pay rent, pay bills, etc. No one has that much extra $ for incidentals. I think that might be the main reason your sales haven't been as good
I think you may be over-saturating your own market. Frequency and length will create an exclusivity or an excess. If you make it less frequent, then people will carve out space to go, whereas if you have them too frequently it makes them feel like they can just hit the next one. Same thing with length. If its 5 days long, you gotta get there. If its 2 weeks long, then you dont make it a priority and it eventually falls by the wayside.
I think your idea of shortening and making them less frequent will increase profit.
I think there are many reasons the sales have changed. You now have a bin stores popping up nearby (competition). More people are unavailable during the weekdays than a couple years ago. Novelty (what your sales were 3-5 years ago) is long over. Might have one or two too many and not putting them on good dates (mid-summer July is a really bad time for a sale like this). Finally people are rethinking what they are buying, minimalism is becoming the latest fad, similar to how bin shops were a hit a few years ago. I keep seeing people say the economy, but where I am in the SE (Carolinas) it is doing so much better than 4-6 years ago, so I call BS on people complaining about that, but it could be more of a regional thing. You are right to keep expanding and changing what you do, you have to constantly. I work in FInance and the more profitable investment firms add products and change the products they offer. The ones that do the same old seldom last more than a decade. Good luck, you are fun to watch. But warehouse sales might be somewhat over as you have been doing them the last couple of years.
If you think the economy is good, you are so dumb
Live firesales so your viewers can buy.... and mystery boxes not necessarily purchased ones like the amazon boxes but themed ones you made up...
I think starting at $6 is the way to go. I would have two $5 days. Heavy on the special buys is probably the most profitable. I would give it a try to have a shorter sale with fewer days.
WhatNot!!!!! Lots of ppl always looking for household items.....the economy is tough for almost everyone so a good deal on laundry soap and diapers are needed and appreciated!🥰
That's what I suggested every couple weeks, and train an employee just for those sales and shipping. And do box lots for it! The inventory he gets and the abundance is perfect for that!! I personally think he would do well with it.
Sucks with the recent sales figures but fair play with some of your proposals. Intrigued to find out what the new website is - with you growing your hair long you are probably starting a band and announcing a tour with merch/ticket sales for your upcoming tour...God help us. Hope the second half of the sales picks up.
Ohh if you eliminate some sales how about buying lowes or home depot pallets and have a pallet sale I love my pallet sales where I live at if you make it consistent every week once a week might be worth it and just a couple hours no need to be open all day
Last time he tried a pallet sale, it didn't go well
If only i had events that made that money hourly.
Bigger building. You need to be able to stage and hold auctions at all times without tearing it down to do these sales. Likewise, you need more floorspace for warehouse sales so you can move more of what makes your profit. I still think the word "liquidation" in your brand is a problem. You know what it means. I know what it means. But a lot of people don't associate that word with a sale or bargain deals. They think it means something to do with water. Keep the name but brand the warehouse sale with something people immediately understand. Anyway Big Lots is about to go under and that's going to flood the market with their merch and also merch they had been buying, so expect the floor to fall out from under the sales where you source goods.
I agree in a sense but the building is plenty big they just need to be more organized and use the space better
No one thinks liquidation means water
It's just the bad economy no one is selling much you might do better using your place as flea market atleast you could make rent money off them
Run HiBid auctions instead of warehouse sales - the customers come online over the week and all come for pickup all at once.
He does hibid auctions every week
Look into an SBA loan for a commercial space. You only need 10% down in most cases. Really insightful to hear about your business strategy behind the scenes.
A comparable space is going to be $2-3 million, unfortunately. To keep my current payment, I’d have to have less than $900k financed with current interest rates.
Buy 3 x $10 items for $25
OR
Buy 5 x $10 items and get an extra $10 item for free 🤷🏽♂️
Both deals are technically the same, but if you're struggling at the moment, as are people with spare cash, I'd opt to do the 3 for $25
$7 items buy 3 items and get a $2 item for free etc etc
Warehouse Sale for Christmas. if you are starting at 6 I'd rename those Garage sale? or something like that. I think the name Warehouse Sale is overused appliance and furniture stores do that. Christmas at the Warehouse. Back-to School crazy low prices
$7 $5 $3 $1 and Fill a bag...makes each day feel different...wed-sun
Someone mentioned two sales during Christmas. I partially agree. Run a regular sale then maybe a $5 sale on Black Friday with all the higher costs item. Also no special buy
Unfortunately I think the economy is just not in a great place so I bet that’s part of it. I think the idea of lowering the day amounts would be helpful!
I agree on your assessment of the buying environment. Not sure why it has changed or where people are now shopping.
I also agree with the timing of the sales along with the number of days for said sale can be a big factor.
I do local online consignment sales and the only sales I make any profit are the fall/winter/Christmas sales. People are only buying on the last 50% off days.
RR has reached the same conclusion I suggested in the last sale. De-emphasize the warehouse sale, and find other, more profitable outlets for the merchandise. I still think RR would make a good WhatNot auctioneer, or even a good live auctioneer. Green Bay may not have enough customers to absorb all the merchandise.
Ever looked at Commons District, the new reseller to reseller platform?
I think marketing is a huge benefactor. Try ads on cars. Just local
Marketing. Leave flyers everywhere! Just a thought. It worked for me for a catering business I did.
Also why not try whatnot?
John… think smarter not harder… you should be out there now hiring Tim’s replacement… have Tim train him the way you need him to work … I I know it’s extra payroll overhead for a few weeks but it takes the weight off your shoulders to train a new employee while you focus elsewhere
Training people for eBay sales is not easy. = much better finding someone(s) struggling with their eBay store and use their experience. = Posting for eBay is very mind numbing.
Sales are slumping because of competition.
Literally anyone can go online and buy a pallet and setup a sale just like yours.
The market is saturated, and although you started doing it before anyone else, I doubt you can undercut everyone else, or make it worth it.
Im curious what these software fees are.
Any way to not have such a big warehouse - downsize your overhead
The cost of all the pallets you buy is a lot - buy less pallets
My 2 cents for 2025.
3 sales a year Apr, Aug, and early December. 10-8x2-6 thurs- Sunday. 5-4-3-2-1 wends-sunday.
Auction needs a dedicated space. Like the room under the mezzanine and the central area with the TRU racking. Get more of those awesome rolling racks (I have 4 of the same ones) so you can move them for when you need to unload a trailer.
If you have a flea market bring a bunch of dollar stuff. Ive found that if you bring the stuff to the masses youll sell.
People aint driving all over to get deals.
Just a thought, ever think about doubling up an Xmas sale? Like back to back sales. One around black Friday and the other right before Xmas.
If you use items in other venues to pay for themselves for the warehouse sales, then you’re not profiting on the items originally so I think you’re wind up in the same situation
Long story short hopefully Years ago Marks and Spencer - key retailer in UK of clothing homeware and food decided to open a store in Paris Noted at the time for high quality good value merchandise so they sent over some brilliant good quality fashionable cashmere coats that they thought would fly off the shelves - none sold and after some investigation it seems the Parisians didn’t know the brand and couldn’t believe the price was good They upped the price by £20 (a lot in 1980s) and they couldn’t keep up with demand !
Bargain shoppers are limited income shoppers try closer to the first of the month
What about a reseller focused sale? And create an email sign up and hype the sale a few days before.
This is what I’d do :
Ever see how many go grocery shopping ? Maybe concentrate on bringing in more groceries . It’s a required items , and with the cost of food , offer a good discount on it . There’s a liquidation place near me in Calgary. I’ve chatted with them . If they sell food at a better price than the grocers do , people will snap it up . They also have some freezer foods . Could you approach grocers in your area , and negotiate a deal with their items they will end up tossing out anyways . Just take a look on YT, look under “ dumpster divers “, and see the waste . Or do you think you could negotiate deals directly with companies like Kelligg’s, Campbells, Windex ?
Also building your own website is smart . Why continue to have to pay eBay fees ? And I hate to say this , but can you cut some hours on 2 staff ? Can your landlord give you a discount on rent ? After all , it’s better to have you there at a lesser profit , than having that space sit empty until a new tenant is found .
I think the name of the game is now do different things than what your competitors do , and do it better .
One other thing , don’t forget to get your SEO up there , so you’re easier to find on the net . Someone I know of has a theory . That if you build a website using Google products , google search will push you up on the first page . He’s currently testing this out . But never pay for google leads, or ads . Waste of money . Hope this helps .
My ringtone: A voice saying, "An idiot is attempting to reach you on you cellular device!!"
It’s all about you you isn’t it? (Rhetorical)
@@warflair1312 I'm gonna work on being less condescending. (Condescending means talking down to people.)
Or a Nigerian Prince lol. I have no shortage of those .
Organization and cleaning are important. Stop buying until you have all pallets and products inventoried. Just an idea.
I keep hoping you get to that $100 K sale.
There is no rhyme or reason to retail these days. I have a shop & it is feast or famine. Many days only food items sell (I have local jams, honey, maple syrup & buttertarts 🥰)
Maybe weelky live auctions?
Hi Jon, avid watcher of your videos here. Have you given any thought ever to maybe doing a bin store type store inside a flea market you must have a flea market there that has good attendance. You could take advantage of their customer base still do the same thing you do now $10 day seven dollar day five dollar day because typically those are used to have a spot at one that was open Friday Saturday Sunday And you could go in during the week and Reese restock it’s just a thought but might be good to give it a shot that’s my two cents and I’m sticking to it
That stand I’d turn the printed inserts round or even remove them as I think people are literal and perhaps are put off by the existing branding and I charge $25 Someone may want it for their kitchen or office
Maybe do something like 3 days (thursday, friday, saturday) for 2 weeks (like 10$, 7$, 5$ on the first week and 2$,1$ and bag day) and stop it there?
Three sales a year would be probably best unless you do two monthly dollar bin sales per month maybe?
Follow your energy. Where you are excited, people will follow. Just a thought...
I would try changing up your marketing and see if that helps. I think you still do a lot through Facebook and Facebook doesn't have the traffic it used to. The economy sucks right now also, so there are lots of businesses struggling.
I think the warehouse sale should concentrate on household items instead of miscellaneous items.
Next business idea, build a long stay campground. Charge 500 per month, only let nice campers in. Have 50 spots. $25,000 per month.
Just sayin.
Yep, scarcity makes ppl think (hmmm why is this so good) and FOMO kicks in. I've experienced it myself and often wonder if I was 'staged scarcity'
What about more items six dollars two for 10 dollars to move more and an area for special bus for 10 dollar items
Do some mystery boxes on $4 dollars days
Have you ever thought of a mobile warehouse sale.
Have you thought about Whatnot for basic stuff to include you creating your own mystery boxes
It would seem the solution to the viability of the company is to let the employee that earns gets $150,000 a month go .
It is no longer sustainable to keep him on 😊
Maybe do a 10,5,3,2 and a 1 dollar day
You should hire someone to do whatnot full time for you!
I think you basically need to have of a permanent store for the better stuff and sporadic liquidation sales
Better advertising. How do you advertise when you're having your sales? I live in Illinois near the Wisconsin border and I think there are plenty of people outside your community that would love to come to these sales if the dates were known. I have never seen them advertized on your RUclips channel. How about Facebook- tried to find them listed there and couldn't. I see the sale videos after the fact!
Sell mystery boxes to outside sellers
Bring scarity back dude. Have you noticed if sales dropped off since you increased the number of days open?
Just a thought.
When did he increase the number of days open? It's been this same schedule for years
Whatnot, flea markets, sell your own mystery pallets. ,
Must be a merch page 44:08