The year was 1997 and I was a 31 year old enterprising businessman with a point to prove, a mark to make and a fire in my belly. By this time I had already been in business for myself more than 10 years and had built a stable foundation. I had experienced working in various types of shared storage spaces and multi tenant buildings. I was young, motivated, and making good money, but missing one important piece of the puzzle that mattered more to me than anything. I wanted to purchase a warehouse building of my own; a place where I could settle in and hang my name on the door. I wanted my own home, sweet home.
But at the time the industrial real estate market was strong and I couldn't find any deals. I remember driving street after street and talking to broker after broker. Nothing. Either it was too big, too small, or too far away. It didn't have any loading, it didn't have enough loading, the ceilings were too low, the office was too small or too large, or for the times I found something workable – well those were just way too expensive. But I had an angel on my side and I didn't know it at the time. I had my Dad.
Over the years my Dad and I had a challenging relationship, but it was never for lack of his interest in everything I did and every move I made. He was the most supportive Father I could have ever asked for and I was fortunate he took such an interest in everything I did since I was little. So everyday he would call. “There is a building at such and such address” he would share. “I saw it”, I would tell him as if he didn't think I was out there pounding the pavement. “I spoke with Jim Getzoff today and he has a property on the South Side” he would say. “I know about it”, I would tell him in despair. “The roof needs to be replaced and it's littered with environmental problems”. I used to get so frustrated with him because he would always tell me everything I already knew. Almost always. One day he mentioned a broker I hadn't heard of and an address I hadn't seen. “Where on 36th Street?” I eagerly asked. Hmmm, interesting. I hadn't seen it.
In January 1998, 3021 W. 36th Street, Chicago, IL 60632 changed ownership and became mine. It was my baby. It was 30,000 square feet of raw hope and promise and possibility and love and admiration and pride and dedication and inspiration. I spent 20 years of my life in this building, taking care of it and it taking care of me. Nothing that ever broke stayed broke. I made sure this building was managed and cared for to the best of my abilities. If the roof leaked it was immediately fixed, if brickwork needed attention we didn't wait. Old office? Fix it up and make it look new. Broken windows? Only for as long as it took to get new glass. Graffiti in the back? Gone within 72 hours. Nice pictures on the walls, hardwood floors in the office, and on and on and on.
But now with the real estate market strong again, I took advantage of an opportunity to sell the building and move on. The truth is, it isn't as perfect for me as it once was, and I understand this is part of life and change and growth and acceptance. I know it's existence is only one of brick and mortar, a structure of concrete floors and rubber roof, but to me it was always so much more. It was the words I spoke and the air I breathed and the happiness in my smile and the pain in my joints. It was all I talked about for years and in many ways I can see that it was even too much a part of me in that I let it define me. To me it was a real living thing.
So in my heart there is a void and the difficulty for me comes in letting go. Not to all the dreams and hopes this building held, because I was very fortunate that most of them were realized for me. But in knowing I won't be there any longer, and all I am left with now will be my memories. The love I had for this space over all the years it nurtured and grew my business is simply irreplaceable.
Merchandise USA is a wholesale closeout buyer and liquidator in business more than 33 years.
When we opened our Miami showroom in 2015, I was hopeful it would be a way for us to sell more of our closeout and surplus inventory. One of the challenges we were having at the time was that we were repeatedly seeing the same customers and not selling enough new accounts. Our last show in April was by far the best to date, and we believe it will continue to grow.
Now don't get me wrong, we love our regular accounts and appreciate everything about them. But for any business to survive, it must grow it's customer base in an effort to manage inventory flow and insure a steady cash flow. I have found that over time in Miami we have been able to meet and cultivate a new and different kind of client. Many of these people have businesses in Florida, South America and Central America, where our special niche of closeouts is a perfect fit. Since we specialize in buying liquidations and excess merchandise, it allows us to give these customers product at low prices they would not be able to get anywhere else.
As an example, I met a wonderful woman from the Bahamas named Angel (I think she really is an Angel) who has a beautiful store in Nassau. Like the rest of us, the post Amazon retail environment has affected her business and she has been forced to make changes and re-tool. So instead of selling only books and stationery, she now carries home accessories, glassware, and more general merchandise. This week we will be shipping her almost a full container of closeouts.
Then there is Anan, clearly an aggressive business owner from Jacksonville who is always on the go, and seeking out deals on all kinds of inventory. I can tell from the short time I have know him that he is a hands-on operator, always multi tasking, and in total control of his business.
Naseem is an old-school hard-working-as-they-come business owner from South Miami. She runs a retail outlet all by herself and there is never a time I talk to her on the phone when she is not with a customer. Somehow between buying, unpacking, stocking the store and paying bills, I consistently hear her dialog with customers, answering their questions and thanking them for their business.
Jim buys closeouts for a huge warehouse superstore in the Cayman Islands. Although we knew him before we opened in Miami, he recently told me he will be visiting this showroom more frequently because it allows him to have a steady flow of product from vendors he trusts. Jim is one of the nicest buyers you could hope to work with, and is a wonderful addition to our customer base.
There are too many more to name, but we feel our growth from this showroom is real and I have more faith than ever in the customer base drawn to it. Our next show dates are June 24th -26th and for more details please visit either our website at www.merchandiseusa.com or Mart of Miami showroom website at www.martofmiami.com
First, I learned something today I want to share with you. Americas last full blown trade war was in 1930 at the beginning of the Great Depression. Claiming it was protecting American jobs, Congress passed the Smoot Hawley Act. This was a bill that was originally introduced and designed to protect farmers. But to build political support, many lawmakers asked for tariffs -- or taxes -- on all sorts of goods in exchange for their vote.
At the end of the day, U.S. Imports fell 40% in the two years after Smoot Hawley was passed. Banks failed, the unemployment rate increased, and the economy grew worse. Although these trade wars were not the cause of the Depression, it is clear they made matters much worse than they otherwise would have been. A trade war is a lot like business itself; easy to get into and difficult to get out of.
Ultimately, U.S. tariffs on overseas products are met with retaliatory strikes, leading to additional tariffs from the United States, and back and forth we go as each side hurls more artillery at the other. In the end, it is the Global economy that will suffer, and each country will likely be worse off for the whole thing with the possible exception of each leaders ego.
My basic dumbed down way of looking at things is this: Let's say U.S. breweries buy all the material for their beer cans overseas because it's cheaper than buying it here. Makes sense. So we impose a 10% tariff on all imported aluminum to create a more level playing field in an effort to get breweries to buy their beer cans locally. But now its more expensive to package the beer and the liquor people don't want to make less money, so they raise their prices. Guess what happens next? US consumers don't buy as much beer because it's cutting into their ability to buy groceries for their families, or they start buying wine, or they switch to imported bear. So domestic breweries lose revenue.
Wanna take another guess at what happens now? The beer companies start laying off employees because they aren't as busy as they used to be. Now take a stab at which one of those economic rates will begin to suffer. That's right, the unemployment rate goes up. Now, this is just a single tariff. Can you imagine multiple layers of retaliation in many industries on all sorts of goods in a trade war? No thanks.
A trade war would deliver a particularly hard blow to the closeout industry because we have to sell closeouts and overstocks way below regular cost. If it suddenly became more expensive to import general merchandise, and we were paying more to buy closeouts, we would have to raise our prices and our customers would have to raise their prices. Somehow, I don't think the low end discount buyer today is going to pay more for our overstock, closeout and liquidated inventory. They just won't buy as much. And that means closeout retail sales will suffer. No thanks again.
Merchandise USA is an inventory liquidator specializing in closeout and surplus inventory. Contact us if you are selling closeout toys, liquidating housewares, or have any other excess inventory.
When I was a little kid, there were only two things that made me happier than using a spoon to pry coins out from the slot in the head of my plastic Mickey Mouse bank. One was scouring the pages of the three inch thick Sears catalog that had a "better than anyone could ever photo shop" picture of every product imaginable. I ravaged those pages so many times they became thin as tissue paper, and the images of the toys were etched in my mind forever.
But my favorite thing to do, and the activity I dreamed of at night and loved the most, was a trip with my parents to the Bargain Town store. Bargain Town, for those of us old enough to remember life before Amazon, is what they used to call Toys R Us back in the 1970's. And man oh man, did I love going there. You have to remember, we didn't have iPads, Gameboys, iPhones, Apps, or anything like that to play with. The Bargain Town investors weren't crying that kids were addicted to going to the toy store. If anything, kids back then were strung out on Estes Rockets, Raleigh bicycles, Tyco trains and Cox gas powered airplanes. My childhood was made up of the things any product liability attorney would dream of getting his hands on in today's upside down, nobody takes responsibility for anything, I'm suing because my coffee is too hot, crazy world . My hero was Geoffrey The Giraffe and it was his respected iconic cartoon face I couldn't wait to see in the Sunday newspaper ads.
Life was simple. If you wanted a toy you went to the toy store. The atmosphere was truly something special and it lived in a time and a place where 35,000 square feet of toys and games was magical. It turned a commercial strip mall into a wonderland like no other retail space ever had before, and Geoffrey's smiling face stood proud above the parking lot like a billboard for a Presidential candidate. You felt like a King marching into that place, and if your parents wanted to make you feel even more special, they signed you up for Geoffrey's Birthday Club.
What a shame for boys and girls today to have never been able to experience the thrill of being a Toys R Us Kid and pushing one of those metal shopping carts with damaged wheels down a Bargain Town aisle. To have never played in the store with a metal Slinky or Charlie McCarthy ventriloquist doll. To never fly a Cox or Testers gas tethered airplane in circles until you get a head rush so bad you have to fall down. Or to have missed an opportunity to be one of the first kids on the block to Bargain Town for the Mattel Vertibird helicopter or to buy your first Battleship game or bicycle.
The death of the retail mall I can accept and live with. And I understand that shopping trends have changed, the internet is here to stay, and kids are getting older younger. I'm okay with all that. But dealing with the loss of Geoffrey the Giraffe.. ...not so much.
Merchandise USA is a wholesale closeout company. We specialize in buying overstock and surplus inventory of all categories including toys.
Here we are again planning for another ASD Market Week in Las Vegas. Upcoming dates are March 10th to 14th and, as usual, we are expecting a busy show . If you don't already have an appointment to see us, please call today to reserve a day and time. We are located in SU-811 and, as always, our booths will be jam-packed with great deals on closeout and liquidation products of all kinds.
One of the best things about this show is it allows us to see our valued International friends and customers who don't regularly visit our Chicago or Miami showrooms. Since we specialize in selling overstock and excess inventory only, these goods tend to move quickly and our overseas accounts don't always have the opportunity to buy them. But in Las Vegas, we bring samples of all our best deals and we look forward to seeing customers who can only visit with us at this market.
We also welcome our clients who regularly support us in Chicago and Miami, and we encourage you to see us as early as well in Las Vegas for new closeout deals. In addition to seeing our regular customers, we are always very excited to meet new accounts. So if you have not purchased from us in the past, the Las Vegas show is an excellent opportunity for you to take advantage of our overstock, closeout and liquidation deals.
This show, we are planning to have large selections of handbags, pillows, giftware, home accessories, housewares, apparel, novelties, toys and much more. And the best thing about our merchandise is that it is all closeouts, all the time. We do not buy regular imports. So call today to make your appointment, and see us as early as possible at ASD Market Week! (888) 757-0060.
Merchandise USA is a 33 year old wholesale liquidator specializing in closeout and surplus inventory.
I've been in the closeout business for a long time. Like a really long time. Some of our suppliers have been selling us their closeouts for decades. Other vendors are one hit wonders, where we buy from them one time and never hear from them again. But with all the deals I have made, and all the liquidations I've purchased, I have a few suggestions for anyone trying to find the right closeout company for their inventory.
1. Research, Research, Research. There are a lot of good apples in the closeout industry, but there are also a lot of rotten eggs. If you are talking with a company you don't know, get references and talk to other sellers who have already liquidated their overstock to them. Did they pickup and pay on time? Did they pay in full or were there unnecessary deductions? Was the process easy, or was it difficult and would they work with the company again?
2. Do The Math. Let's face it you are liquidating merchandise so you are going to take a loss. But the question is, do you have any better options? Can you sell half the product over the next 12 months for 3X the money, and be better off? If you get rid of the dead stock now at pennies on the dollar, can you make up the losses over the next year because you have more space to turn goods? You have to examine your options, do the math, and make the choice that is right for you. This will put you in a much better position to find the right buyer.
3. Ask Questions. Just because you are selling and they are buying doesn't mean you can't ask them questions. Don't be afraid to push back a little and find out where they plan to sell your merchandise. Will it go back into the marketplace and interfere with your distribution? Bad idea. Will it be sold online for all the world to see including your core customers? Poor Judgment. Ask all these questions in advance so you won't have any unpleasant surprises.
4. Buyer or Broker? You want a company that will make you an offer to make a clean purchase of all your liquidation stock. You need a buyer who has the ability to swoop in, pickup all the merchandise, ship it to their warehouse, pay you right away, and be done with it. What you don't want is somebody making you false promises about how they can sell your merchandise for you. You don't need a broker who has no skin in the game and wants to make money off your misfortune without taking a position. Save yourself the frustration and aggravation; work only with a real buyer.
Merchandise USA specializes in buying surplus, liquidated, overstock and closeout inventory.
“Some of the best deals are the ones we never get”. I have to admit this is one of my favorite sayings and mostly because it's so true. We buy closeouts that we think are going to fly, and they trickle out of the warehouse, or even worse don’t sell at all. Then we take overstock inventory we don’t even want because it is part of a larger package deal, and these are the items that often sell better than anything. But the best is when we look back at merchandise we wanted to buy in the worst way, but didn't get, and we learn later it would have been slow moving inventory or obsolete stock we would have had to liquidate at a loss. You have to be Columbo to figure it all out.
Buying overstock inventory and surplus merchandise can be an unpredictable game, and as closeout buyers, we are often put in a position where we have to take a chance on something. Should we buy this discontinued inventory just because it is cheap? Should we invest in excess merchandise that someone else is trying to get rid of? Hard to say.
The truth is there is often opportunity to make money with a bankruptcy or an overstock or closeout deal. But there are risks - like maybe the merchandise won’t sell and we might have to liquidate it. Or maybe what we think is a great closeout opportunity really isn't as good as it looks. But this is all part of the closeout business, and if you aren’t making any mistakes then it’s likely you just aren’t buying enough liquidations.
We have been excess inventory buyers for 33 years, so trust me when I tell you it isn’t easy to pick only beauty queens. When we buy a deal it’s because at the time we think it’s a great buy. But somehow many of these “deals” have turned out to be total dogs. And some of them bark really loud.
Like baseball, it’s all about the batting average. There is simply no way to avoid striking out. But if you hit enough singles and doubles, an occasional triple and every once in awhile a home run, then the numbers tend to work out. And that’ll make you a happy puppy.
Merchandise USA is a wholesale liquidator specializing in buying overstock and closeout inventory. Contact us with any overstock clearance, going out of business sale, or bankruptcy liquidation.
When you think of all the things you wouldn't want to be today, one of them would have to be a real estate developer with an indoor shopping mall in his portfolio. These behemoths are millions of square feet of vacant wasteland, and in many ways represent the very idea of how the retail environment has drastically changed in the past 20 years.
As a kid growing up on the North Shore of Chicago, we spent countless hours roaming the massive footage of these indoor spaces. For us, it was less a place to support the retail stores inside and more a case of where to hang out after school. But today the piped in music echoes off barren walls.
Today's kids (and adults, for that matter) have little need or interest in visiting an indoor shopping mall anchored by a Macy's, J.C. Penney's or Nordstrom's. Of the more than 1,100 indoor malls left in the United States, analysts estimate more than 1 in every 4 will be closed by 2022. The mall staple, Radio Schack, has filed for bankruptcy twice in two years. This year alone, nine national retailers filed for bankruptcy.
Some ailing malls have already moved on to a second life. Austin Community College in Texas purchased Highland Mall in 2012 and converted part of it into a tech driven learning lab and library. In Nashville, Vanderbilt University Medical Center moved into the second floor of the 100 Oaks Mall, a few blocks from Downtown. The Southland Christian Church in Lexington, KY bought their nearby mall and transformed part of it into an auditorium. In May, the Schuylkill Mall in Frackville, PA gave it's remaining tenants 90 days to close up shop and tenants expect the mall to be demolished.
The decline in malls began slowly. In the mid 2000's the rise in online shopping and affects of the Great Recession let to a drop in sales at many of the country's malls. By the years 2010-2013 mall visits during the holiday season dropped by as much as 50%. But there is hope after all. The Mayfield Mall in Mountain View, CA shut down in 1983 when Hewlett Packard moved in an transformed the space into offices. Then in 2013 Google bought and renovated the 500,000 square foot space turning it into it's Google Glass headquarters.
Merchandise USA is a wholesale closeout buyer specializing in excess inventory and overstock.
Convenience:Depending on the type of business you are in, there can be some very compelling reasons to run your wholesale distribution company through a 3PL warehouse. In some cases it makes a great deal of sense to use a fulfillment warehouse, but in other cases it can be an inventory control nightmare. Here are some of the biggest pros and cons of working with a 3PL company.
Flexibility: The simple fact is that there are times when business is better than others. 3PL logistics allows you to increase space as needed. You can increase and decrease your space as your business ebbs and flows. This is especially important if you have wholesale products to sell that are by nature either seasonal or cyclical. Even in the case of a company going out of business, and there is a liquidation of a company, it is much easier to downsize 3PL warehouse space as needed until the entire inventory is liquidated.
Technology:Fulfillment warehouses that specialize in warehouse distribution tend to have state of the art technology systems. This means you can operate in real time with your inventory, and your system can communicate with their inventory management programs for efficient operations. The technological advantage is most likely helpful to businesses with wholesale sites and inventory management issues related to slow moving systems and procedures.
Lack of Contol: When you allow an outside company to run your warehouse, you definitely have to give up control. No longer can you run in back to look at something, go grab a quick sample, or take a fast look at something that requires inspection. In many cases, with closeout, overstock and excess inventory, shipments come in that must be properly inspected in a short period of time.
Commitment: Once you turn everything over to a third party warehouse and remove your inside people from doing this work, you are tied to the outside warehouse. If at any point you decide to bring these duties back in house you will essentially be starting all over again with a new warehouse crew and system. This would impact shipping for weeks or months until you are up and running.
Reputation: I often tell my people that the strongest impression our customers have of our company is what the pallets and cartons look like when they arrive at their stores. If you get into a situation where your 3PL company does a sloppy job organizing and palletizing your orders, mislabeling cartons and/or pallets, and sending dirty cases, packing boxes sideways/upside down, etc, this affects your reputation because it affects the image your customer has of your organization.
So at the end of the day, although it may seem that 3PL distribution is a slam dunk, you'll have to consider it very carefully. Just because the largest logistics companies in the United States promise they can do the job for you, it may not mean you are a match. Surplus and closeout companies would have a very difficult time operating from a third party warehouse. Wholesale liquidators, online liquidation auctions, and companies selling wholesale liquidation pallets would also have a difficult time operating from a fulfillment warehouse.
Merchandise USA is a surplus, closeout and wholesale liquidator. We specialize in discontinued products, bankruptcy inventory and liquidation sales. For more information on the liquidation process please contact us.
As Amazon and other on-line shopping continues to take its toll on the retail sector, we will likely see more store closings in the years ahead. Personally, I'm not a member of the “retail is dead” fan club, and I think many brick and mortar businesses are finding ways to survive and thrive in today's brave new world. The simple truth of it all is they have to figure out how to do things differently.
But since the majority of them don't know how to change, it is likely we will have more chapter 11 filings ahead in 2018 and more companies going out of business. This year alone we saw many big names file for bankruptcy protection – Toys R Us, Radio Shack, The Limited, Rue 21 and Payless Shoes are just a handful of the casualties.
The stores that really should have the best chance of survival are the independent retailers in the closeout industry. These are companies running outlets with anywhere from one to a couple hundred units, where they are regional in nature and they have the ability to zig and zag with the market as it continues to morph into something different. They can buy special deals from wholesale liquidators and run overstock clearance sales.
These companies can effectively continue bringing in closeout and surplus merchandise and promote liquidation sales and overstock. They can have a truckload deal of clothing one week, and another truckload of appliances the next week. They can be different. They can offer the consumer something that really has value. Deals. The trick is going to be figuring out how to get them in the store. Radio broadcasting? I don't think so. TV advertising? Not going to happen. How about running a series of ads in the newspaper? Forget it.
Now let's talk about social media and Facebook and Instagram and blogging and start doing one of the hardest things imaginable. Change.
When it comes to liquidating merchandise, it can be an easy and pleasant experience if you have the right attitude and take the appropriate steps. Since we have specialized in the closeout business for many years, I wanted to share some ideas on how to get through the process quickly and painlessly.
Get over it. One of the biggest deterrents to letting go and getting rid of dead inventory is the emotional component. Nobody likes the idea of selling something for less than it cost because, well, let's face it, nobody likes losing money. But sometimes, it is necessary in the short term to liquidate closeouts that are taking up warehouse space, or tying up valuable cash. This way, you can reach your long term business goal of overall profitability.
Choose your partner wisely. There are a lot of players out there in the closeout world. Some of them are experienced and reliable, and others not so much. So it is important you do your due diligence when choosing where you will be liquidating your merchandise. Look for a closeout buyer who is aligned with your expectations of what you want to happen. Find a company capable of giving you what you need to help you every step of the way through the transaction, from start to finish. This includes getting the price you expect, as well as agreeing on shipping and payment terms.
Learn something. There is an old saying “learn from your mistakes”. This is true in business and very important when liquidating inventory. In an effort to limit the amount of money lost on liquidations it is helpful to understand how you got into your situation in the first place. There are times when we have to liquidate overstock merchandise because of a natural product life cycle, or phasing out slow-moving merchandise to make way for a new line. But there are other times when we are forced to sell because the product was inferior in the marketplace, or the price was too high or the product became obsolete. These are the things to avoid a second time around, if possible.
Your first offer is your best offer. One thing I tell people who call us wanting to get rid of surplus merchandise is that your first offer is often your best offer. We experience the same thing when selling closeouts; if someone makes us an offer to take everything and if we can find a way to justify selling all of our inventory quickly, all at one time, we do our best to make it happen. Many times if we hold out for a higher price, not only do we not get it, but we end up getting less than the original offer. So if you are old enough to remember “Let's Make A Deal” with Monte Hall and Carol Merrill, you'll know what I mean when I say you should consider taking what's on Jay's table.
Finding the right company to buy surplus merchandise is not rocket science and anyone can do it as long as you are armed with the right information. Merchandise USA is a liquidator and surplus company in business since 1984, and we stand proud of our long track record in the industry.
We are opening our Miami Lakes showroom to all customers next week, November 12th-14th. Whether your company is based in Florida, South America, or Central America this is a great opportunity to purchase last minute inventory on closeouts, liquidations, and wholesale buyouts
for the Holidays.
If you operate retail stores, you are well aware of how important the last 6 weeks of the year can be toward driving sales. Take advantage of this opportunity to buy overstock inventory on deals we are making available in all categories including toys, housewares, giftware, glassware, novelties, crafts, seasonal inventory, and sporting goods. We also have bulk closeouts, wholesale apparel, and many other kinds of surplus merchandise at deep discount prices.
Since we are one of the largest inventory liquidators in the industry, we are always receiving new shipments. I encourage you to visit our showroom where you can see all of our most recent deals on exciting closeout merchandise. We have been liquidation experts since 1984 and have more than 100,000 square feet of warehouse space loaded with incredible deals on overstock merchandise at prices 50% to 75% below regular wholesale.
So if you are interested in buying closeouts, call us today at (888) 757-0060 to make a show appointment, or visit our website www.merchandiseusa.com for more details.
If you are a a wholesale distributor or importer, it's time to begin working down your inventory for 2017. Ideally, you want to clear out any closeout, overstock , excess or surplus inventory before December 31st. The clock is ticking and time moves quickly. It's best to begin planning now and here are some compelling reasons why.
1. Tax benefits. Assuming you made money this year, it's a good opportunity to offset your income with any losses. If you have to sell your inactive and surplus inventory below cost it makes sense to do it in the same year you had other gains. The government is your partner in your income, so you may as well let them also participate in any losses and take the tax write off.
2. Warehouse space. As the real estate market around the country continues to heat up, the cost to buy or lease warehouse space keeps rising. If you are fortunate enough to be locked into a lease rate there is no point in using up any of your existing space with unwanted inventory. If you are paying for additional outside storage , this makes even less sense because you can sell your closeouts and reduce the amount of space you need.
3. Cash Flow. Let's face facts, the bills keep coming, the cost of doing business keeps going up, and there never seems to be enough money in the checking account to comfortably pay for everything. There is a good chance you'll never miss that slow moving inventory in your warehouse, so why not sell it in one fell swoop and convert it into a pile of cash? Use the money to pay down debt, hire additional help, or invest it into more profitable merchandise and keep turning it.
4. Business Closure. If you have made the difficult decision to close a division of your company, or close the entire business, it means you must liquidate your inventory. If your fiscal year ends at the end of a calendar year, it will help you to complete everything by December 31st. There is never a good time to liquidate a company or dispose of all your merchandise but it is easier from an accounting standpoint to not roll it over to the following year.
5. Peace Of Mind. Sometimes the thought of doing something seems bigger than it really is, and this can get in the way of actually completing the task at hand. When it comes to liquidating closeouts it is an easy process and there is no benefit to procrastinating. Excess inventory is not like a fine wine because it doesn't get better with age. In fact, over time it almost always get worse. Get rid of it, clean your warehouse space, clear your head, and move on to more profitable inventory in 2018.
Merchandise USA has been in the closeout business for 33 years. We specialize in helping companies liquidate overstock, surplus and excess inventory.
I can't be the only person who thinks about these things. I mean, in their day these were undoubtedly amazing inventions that changed lives. But there must be a way to improve them so they work better for us in the ever changing world we live in. Here are the first 6 on my long list.
1. The Iron. I know I'm a guy and may not be the best when it comes to operating an iron. But seriously, isn't there another way to do this that makes more sense? Do we really need to stand over a steaming chunk of metal, leaking hot water all over the garment we are trying to make look better?
2. The Ironing Board. This is simply a good idea, but a bad design. Period. Can't they figure out another way to make the thing stand, than crummy old metal legs that unfold at a hinge that's always in the stuck closed position? And can't it be a little more stable so it doesn't tip over every time you move? Did the guy who invented this thing not know that it would be supporting a burning chunk of metal plugged into the wall with a cord half the size it should have been?
3. Hotel Luggage Cart. Good idea, needs updating. For starters, they never should have been built so narrow and tall. As soon as you stack any weight toward the top, the whole thing falls over. And I think the wheels are still version 1.0 from when the wheel was first invented. When we go to trade shows we often have boxes filled with samples of last minute closeouts. We need a better luggage cart than what every hotel has to offer. I think the upgrade should include a basket, mirrors, a much wider base, bigger wheels and GPS to your room.
4. Root Canal. Teeth are weird. I mean they are a living breathing part of us, but not treated the same way as the rest of our body. A bad tooth may not hurt much at the beginning, but if you procrastinate taking action (my preferred treatment plan), it will definitely get worse. I cracked my back molar and they couldn't do root canal so my only option was to have it pulled. Why can't they make some kind of teeth adhesive and shoot it in there like drywall insulation? Or develop a way to strap one tooth to another until it heals, like a broken finger or toe. We've been pulling teeth since ancient times and I am amazed they can't find a way to repair a crack in the root.
5. Plastic Lids. For me, there is something about drinking coffee out of a ceramic mug that I just don't like. Even when eating at a restaurant, I prefer my coffee in a to-go cup. But why in the world can't anyone invent a leak-proof plastic lid? Why does every refreshing sip have to be accompanied by an equal portion of my coffee dripping down the side of my cup?
6. Airplane Internet. Yes, it is amazingly unbelievable. That we can access the internet from our computer while flying through the sky in an airplane is truly nothing short of a miracle. It is beyond belief and I am totally in awe of this. But since they have the technology, and they figured out how to make it work, why can't they make it work well? Why do I have to type 10 characters, then wait until my computer catches up to me? Why does my screen have to freeze and disconnect me? I am not saying what we have isn't fantastic, because it is. But they can send a rocket 750 million miles to orbit the planet Saturn and send back streaming color images. Why can't I get my e-mail?
Merchandise USA specializes in buying wholesale overstock, closeout, excess and liquidation inventory. We have been in business more than 30 years.
I remember it like it was yesterday. I was a a 10 year old kid doing homework in my bedroom while my parents and their friends were having dinner downstairs. They would drone on and on about things that had absolutely no impact on anything that was important to me. How did their stupid conversation have anything to do with the truly meaningful things in my life? And when would they leave so I could go back downstairs and watch the only TV we had in the house?
I couldn't believe how bored I used to get listening to them talk about things like politics, jobs, and all their old people health problems. Boy was I happy I was a kid and would never have to deal with any of those things. All I had to worry about was what time the Summer day would turn to night and my Mom would start calling my name out "Jay, time to come in". Then again a few minutes later "Let's go, you can play with your friends tomorrow"
Blink an eye and here I am having my 53rd birthday. What did I just say? When did that happen? I mean on the one hand it makes sense. I see how the years played out and where the time went. But then on the other hand , really, 53? I was just a kid riding my new banana seat bike and shooting off model rockets in the field behind my school. It's all somewhat of a blur - the days turned into weeks, the weeks rolled into months, and the months bled into years.
Then I look at all the amazing things that have happened so far in my lifetime. Smoke detectors, digital music, cell phones, MRI machines, GPS, DNA fingerprinting. Time keeps speeding by and it seems to go faster as I get older.
If only Apple could come out with an app to slow things down a little.
Merchandise USA specializes in buying overstock, closeout and liquidation inventory.
1. I'm doing everyone elses work. I'm spending my time providing customers with case packs, case dimensions, pallet heights, shipment weights, inner packs, schedulele B tariff numbers, product material content, freight quotes, etc. I'm dealing with my employees health insurance, payroll problems, personal issues, time off, and personality conflicts. My internet goes down and I'm trouble shooting because the guy that installed our new system didn't really finish the job. I'm on the phone for 45 minutes with UPS Freight because they lost a shipment and never followed up to the claim as promised (multiple times). And the list goes on......
2. I'm having complete conversations electronically. I am a huge fan of e-mail and text when used effectively. But I find people want to have entire conversations via their phones and computers and believe me, this doesn't save time, this takes time. Put a thought or idea out there, send and receive, send and receive again, get a different answer because they misunderstood. Type, type, type, delete because it isn't worded perfectly. Send again, wait, send and receive 10 times until they finally reply (30 seconds later). Over and over and over. It's a waste of time and cutting into productivity more than ever. Text and e-mail is for short quick spurts, not complete conversations and negotiations.
3. We really never recovered from the Great Recession. In many cases things seem like they are better than ever. Real estate is booming, restaurants are packed, unemployment is at record low levels, the stock market is at an all-time high, big corporate profits are up, etc. But did you know statistics show 8 in 10 Americans are in dept and live paycheck to paycheck? And did you know 10 percent of people earning $100,000 plus have trouble making ends meet? Consumer debt is on the rise again and it is showing signs of weakening the retail environment. The effect on our business is that our customers are buying less and more selectively. At the end of the day this equals more work.
4. I'm getting older. It pains me to admit this but I don't have the same level of energy I once did. When I was younger I could work 14 or 15 hours, go the the gym, have dinner, sleep for 4-5 hours and go do it again. Today I can still work long hours, but I don't multi-task as well and by midday my brain starts to get fuzzy. I go to the gym and I still eat. But my workout isn't as hard, I eat less and different foods, and I need more sleep than I used to in order to recover for the next day.
5. The thrill is gone. Here's the worst one. It isn't fun anymore. When the thrill is gone and all you are left with is the workload, aggrevation, and bitterness, it's hard to feel good about things. And when you no longer feel the excitement of making things happen, it's an uphill battle every minute of every day. If I can just figure out how to get back to the basics of buying and selling closeouts, and spending my day making deals with customers and vendors, it would be a beautiful thing.
Merchandise USA specializes in buying overstock, closeout and liquidation inventory.
The closeout business is a fast-moving, ever-changing dynamic that requires getting around and being in front of people all the time. Between buying and selling at trade shows, visiting customers, and meeting with vendors, here is a list of cities I have visited over the past 30 something years.
Chicago, New York, Los Angeles, Atlanta, Newark, Minneapolis, Philadelphia, San Antonio, Columbus, Nashville, Las Vegas, Des Moines, Portland, Miami, Greenfield, New Orleans, Cleveland, Tampa, Milwaukee, Toledo, Huntington Beach, Knoxville, Montreal, Charlotte, Baltimore, Dayton, Lansing, Peoria, Green Bay, Detroit Lakes, San Francisco, Montgomery
Throughout my closeout career I have met people from all walks of life, many of whom I have known since I started this business in 1984. I am grateful to have had this opportunity to live a life that allowed me to see so many places and make so many friends. It occurred to me that most people probably don't get to see as much as I have, and for this I will always be grateful.
The business has changed, so much that it would be unrecognizable to me today had I not been a part of it all these years. But now it is a piece of me, embedded in the very fiber of my DNA, and for better or worse I breath it in, and I breath it out, and it runs through my blood. The financial success and seemingly important business victories are what we work hard for everyday. But the friends who have become permanent fixtures in my life are the real rewards.
Merchandise USA is a liquidation and closeout buyer specializing in selling overstock inventory.
It seems impossible, but here we are again preparing for our ASD Market Week in Las Vegas. We barely finish the last show, ship our orders and begin to recover, when before you know it here we are pulling samples for the next one. Talk about groundhog day.
Truth is, I have a love/hate relationship with the ASD Show. Here are some examples of what I mean:
Love....the amount of business we write/Hate....22 hours setting up our booths
Love....working with International customers we don't see often/Hate....10 nights in Las Vegas
Love....the excitement that still exists for Saturday selling/Hate....junk food for more than a week
Love....being with friends from around the globe/Hate....teardown after the show
Love....getting out of the office for 10 days/Hate....being out of the office for 10 days!
But whether I like it or not, here it comes again. So we are making plans and working hard to make this one of our best shows ever. Be sure to see us there and make your appointment early, because we book up fast and the best deals go quickly.
Merchandise USA has been in business 30+ years and we specialize in liquidations and closeouts.
I want you to know that I really do try to keep this blog informative, interesting and helpful. It isn't always easy to come up with relevant topics, but I give it a lot of thought and effort. So I hope you don't think I've bailed on you just because all I'm doing this month is re-posting a joke I was told.
This past week got the best of me, so when I read this and it made me laugh out loud I wanted to share it. Thanks to a good customer and friend of mine, here it is.
Jack had been a compulsive worrier for years, to the point it was ruining his marriage, his career, and generally his entire life. He tried every self-help book published, went to countless group seminars, and eventually saw a psychologist who recommended a specialist who could help him.
His friend, Bob, noticed a dramatic change and asked "What happened? You used to worry so much you could barely get through the day without having a nervous breakdown? But now you have become so easy going, and nothing seems to bother you anymore."
"I hired a professional worrier and I haven't had a worry since." replied Jack. "A professional worrier? Really? That must be expensive." Bob replied. "How much does it cost?"
"He charges $10,000 a month." Jack told him."
"$10,000 a month!!? How in the world can you afford to pay him?" exclaimed Bob.
"I don't know, that's his problem."
If you want to know how bad the retail business is, just read the headlines. Everyday there are reports of another major chain shedding stores, reporting declining sales, and looking for different ways to stop the bleeding. But in spite of all this bad news, there is life at our end of the brick and mortar discount store market.
We recently completed our ASD Market Week Show where, although traffic and order volume was in line with the last few shows, our average order size improved. We are finding there are still many good accounts alive and well who are buying. We just have to get out there and get in front of them.
Don't get me wrong, running a business today is unbelievably challenging. We are working longer hours, and putting in more effort than ever before to stay on top of everything. But the point I am making is that all is not a lost cause, and as I said from the beginning when I started this company in 1984.......there is always opportunity.
So back to May Market Days. Every May, we hold a trade show in Chicago for buyers of discount and overstock merchandise. We participate with more than 100 exhibitors to bring the best closeout and liquidation deals to customers from around the world. This upcoming show is shaping up to be one of the most actively attended events we have had since we started this more than 20 years ago. Check it out at www.midwestmarketdays.com and register to attend May 1st and 2nd.
I'm not saying things are perfect. But don't believe everything you read.
Merchandise USA is a 30+ year old wholesale liquidation and closeout company.
When I was a kid growing up, one of the most popular television commercials was a Quaker Oats campaign for LIFE cereal. Two boys fighting over who should eat the healthy breakfast cereal until they pushed it on their kid brother to try out. My oh my, how things have changed. For starters, I don't think there is a kid today who would even sit through a television commercial. And the word "Like" has taken on a whole new meaning.
Last month we finally started a Merchandise USA Facebook page. I know, I know, I'm the last one to the party, but it took me that long to understand how social media might help us. So we've been posting, uploading and boosting. We've been sharing and friending and in return we're being liked and followed. In the old days if I wanted to make a friend I went to a party. And the last thing I wanted was for anyone to follow me.
But today we live in a different world. One where we live our lives in front of a computer or on our cell phones. We talk to people, get directions, buy stuff and even keep our daily calendars on all on our phones. And if we have a free minute, we cannot wait to check Facebook on our phones so we can see how all our friends are living seemingly better lives than we are.
So please, Like us on Facebook. And I'll let you know as soon as I figure out what Instagram does.
Merchandise USA is a 30+ year old wholesale liquidation and closeout company.
First let me tell you these words sound impressive, but I had no idea what they really meant. I had heard them before, and I guess I had a vague idea that it is supposed to be some internal code or belief about what my company does and how we see outselves. Or something like what is the “culture” of our company and what is our vision for what we are and what we want to become.
So I Googled "mission statement" and now I have a better understanding of what this means.
Our mission is to serve our customers well by always providing them with new and value-oriented closeout and overstock deals. It is also our purpose to treat all vendors as fair as possible, in taking entire inventories and honoring our agreed to terms. I believe it has always been my philosophy to be transparent and honest when doing business, and to never deliberately misrepresent anything about who we are or how we operate, and furthermore to go out of our way to be above board.
For me, this idea of having a mission statement appears to be what I always felt were my core beliefs about what this company is and how it operates. I guess a mission statement can be defined as the personality of the company, if there is such a thing. And I believe that is an extension of my own personal values.
Merchandise USA specializes in buying and selling closeout, overstock, liquidation and surplus inventory and we have been in business 31 years.
We just spent three days at Americas Mart in Atlanta, and I have to say it is one of my favorite buying shows of the year. The venue is open and spacious, our vendors are always welcoming and friendly to work with and the City is youthful, beautiful and energetic. Thanks to our good friends at Factory Direct Craft in Ohio, we had the privilege of staying at the Westin Hotel where the nights are filled with fun and good food, and we start each morning with Starbucks Coffee right in our lobby.
We bought large quantities of closeouts and liquidations in all categories ranging from glassware, home accessories, giftware, figurines, furniture, handbags, toys, Seasonal merchandise and much more. Fortunately, we have a lot of warehouse space and will have somewhere to unload all these great deals when the trucks start coming in!
The best news is these opportunity buys will be exciting for our customers and their customers. We will make these new values available at our upcoming trade shows including our big presence at ASD Market Week which will be held this year in Las Vegas March 18-22. You can view our entire trade show calendar right here on our website, and you can also shop our inventory for closeout deals or submit information with any excess wholesale stock you have for sale.
Merchandise USA specializes in buying and selling closeout, overstock, liquidation and surplus inventory and we have been in business 31 years.
Don't worry, I'm not about to unload my political opinions on you. I barely discussed them among close friends and family, so I certainly won't do it here. But what I do want to share with you are 10 things that this election brought front and center and I think are noteworthy.
If nothing else, perhaps we all share the same sense of relief and gratitude that the mud-slinging is once and for all over and we can all move forward. Hopefully, it won't be into a ditch.
1.Our country has been torn apart in a way that it may never be stitched back together.
2.If you didn't believe in the power of social media before, you surely will now.
3.Sometimes brand names can fall flat on their face. Jeb Bush.
4.If a third party couldn't polarize this time, it probably doesn't have a chance.
5.Racism, judgment, fear and bigotry are alive and well in the United States.
6.Trump won by spending half. Somewhere in all this lies a good business lesson.
7.What the internet giveth, the internet taketh away. Ken Bone.
8.Donald Trump and Hillary Clinton were possibly the 2 most disliked candidates in history.
9.All roads lead back to Goldman Sachs and Wall Street. Follow the money.
10.The 2016 election was so dispiriting perhaps the system can only rise from here.
Merchandise USA is a wholesale closeout, overstock and surplus company in business 31 years.
I guess I've always been motivated to put 110% into everything I do. With me there seems to be little middle ground as I'm either not involved, or I'm "all in". I don't know maybe it came from my Father who never pushed me too hard, but always made it clear that it was important to make money. Maybe it was because as a kid we were the "poor family" in our middle class neighborhood and it started a fire inside of me with a desire to build something. Maybe being a product of the Baby Boomer generation is the answer.
I don't know what it is, but In any event I'm a pusher. And I don't mean drug pusher, I mean I'm up early, work hard, discipline myself, and push myself to my limits. But here's the rub: it isn't working the way it used to.
I'm not able to meet my goals as efficiently as I did in the past. In fact, some of the things I aim for I am missing by a mile. I often don't get the results I want, and it has been rather frustrating. I can't tell you specifically what happened, but I'm pretty sure it has to do with a number of things. First, I'm getting a little older and I don't have the determination I once had. I've also lost a bit of my ability to focus the way I used to, and my time is now occupied with things I never used to think about like health issues of friends and family members, health issues of my own, and simply trying to live a fuller life outside of work. And then there's the obvious that the business environment has changed so much I often wonder if what I accomplished could ever be repeated.
I haven't decided yet if I've just lowered my expectations to a new low, or if I'm maturing and accepting that there is more to life than work, work and more work. In my younger days I was only happy if I got what I wanted; anything short of 100% success was failure. But now I'm finding there is something to be said for a little less drive and a little more reflection. I may not always get everything I want, but I do have everything I need. And that's a pretty damn good feeling.
Merchandise USA is a wholesale overstock, closeout and liquidation surplus company in business 31 years.
Last year I made a promise to myself that I would never again drive to the warehouse unless it was absolutely necessary. It's only 25 miles away, but it is the commute from Hell. What can take almost 2 hours in Chicago traffic is a short, half hour train ride. Even better, somebody else does the driving. Perfect!
Taking the train has been a blessing. Not only does it get me from station to station in only 35 minutes, but it gives me the opportunity (weather permitting) to walk from home to the train and again at the end of the day from the train home. It's a nice way to rack up an additional 6,000 steps on my Apple Watch. Waking up at 4:30 AM isn't easy but has proven to be the best way to begin my day. And the 5:55 AM train is as reliable as clockwork. Always there. Always on time.
But my point in telling you all this is to address the Metra train motto posted everywhere in the station. "Enjoy The Ride".
I use it as a metaphor for how I want to better live my life, and I try to think more about it each time I see one of those painted murals, or billboards, or advertisements along the highway. Enjoy the day to day. Take everything a little more in stride. Don't sweat the small stuff. Be present. Be happy. Be kind to others. Don't take things for granted.
I want to learn to handle my overwhelming amount of work while still enjoying life. It has become a bigger challenge than ever to do this but the simple Metra advertising slogan helps me. It reminds me that there is more to life than buying and selling closeouts, and shippinig merchandise. It gives me perspective on how to do better, how to make healthier choices. And for that I am grateful.
Merchandise USA is a wholesale overstock and liquidation buyer in business more than 30 years.
What if I gave you 30 minutes to identify the top 5 things your company can do to increase profits? If I told you not to worry about all the details, but hit on those 5 big areas where you know there is room to improve.
Well, that's exactly what I did in this exercise because it forced me to see the areas where change can have the greatest impact. Now I'm not saying these are easy, or even that I would know how to implement them, but I believe they would definitely work.
1. In spite of any emotional impact it may have on you, let all employees know that your policy will be to consistently let go of the bottom performing 10%. I don't know if GE still does this but for many years it was their everyday policy. Keep the top 90% and always be in the process of eliminating the bottom 10%.
2. Spend more time talking to vendors and customers. When it comes to closeouts and overstocks these 2 things are at the core of what drives our business and everything else is a constant stream of disruptions. Focus on what really counts.
3. Identify your 3 biggest annual expenses and commit to doing whatever necessary to reduce them by 15% over the next 12 months. Surely there are changes that can be made to make this happen.
4. Spend less time reading and responding to email. Honestly, there are many times through the day where I feel like I am having a conversation with someone over my computer. Send and wait for the reply. Read the reply, respond and click, click, click again waiting for another reply. Waste of time - start checking e-mail once per hour and spend your time being more productive.
5. Streamline. I think we all have our own areas where we can trim down and become more efficient. We have become complacent and continue to carry expenses we really don't need and can easily learn to do without. Maybe it is an assistant who doesn't pull his/her weight, a trade show that has become adequate at best, advertising that no longer works, etc. Find yours and eliminate it.
Merchandise USA specializes in overstock, closeout and excess inventory.
While cleaning a closet in my house this weekend, I came across a 21-year-old scrapbook with a "press release" my Dad wrote about me.
I was going to re-type it for this blog but decided to shoot a picture from my phone and post it here, as he wrote it, in his words. Next month will be 4 years since he died, and having had the benefit of perspective I think of him often. It really is amazing how time passes, flies, marches on, or whatever you want to call it.
This month marks my 31st year in business. Merchandise USA specializes in buying closeout, overstock and liquidation inventory
Running a successful closeout business today is so demanding I wouldn't know where to begin trying to explain all the challenges. At times it can be overwhelming. I was reading a list of motivational quotes, and thought I would use this blog to share some of them. I think these are important to review from time to time when we need inspiration.
All our dreams can come true if we have the courage to pursue them. - Walt Disney
Success is walking from failure to failure with no loss of enthusiasm. - Winston Churchill
Try not to become a person of success, but rather try to become a person of value. - Albert Einstein
It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. - Charles Darwin
The best revenge is massive success. - Frank Sinatra
No one can make you feel inferior without your consent. - Eleanor Roosevelt
If you're going through hell, keep going. - Winston Churchill
Happiness is a butterfly, which when pursued, is always beyond your grasp, but which, if you will sit down quietly, may alight upon you. - Nathaniel Hawthorne
Start where you are. Use what you have. Do what you can. - Arthur Ash
I find the harder I work, the more luck I seem to have. - Thomas Jefferson
The only place where success comes before work is in the dictionary. - Vidal Sassoon
The #1 reason people fail in life is because they listen to their friends, family and neighbors. Napoleon Hill
Always bear in mind that your own resolution to success is more important than any other one thing. - Abraham Lincoln
In my experience there is only one motivation, and that is desire. No reasons or principle contain it or stand against it. - Jane Smiley
Whenever you find yourself on the side of majority, it's time to pause and reflect. - Mark Twain
Merchandise USA is a 30+ year old wholesale overstock and closeout company. We specialize in buying and selling closeout, discontinued and excess inventory.
Let's face it, day to day operations can become boring at times because it's generally the "same old, same old". But once in awhile something truly exciting happens and it makes for a great story.
So I'm sitting on the floor next to our booth at a trade show, and I'm untangling a bunch of wind chimes that are all stuck together. I'm pulling strings through other strings, looping chimes over other parts of chimes, and really concentrating on how to separate these darn things. Then out of the blue I look up, and there - standing in front of me - is Bruce Springsteen. That's right, The Boss himself is at my trade show and I'm sitting there on the floor surrounded by boxes of closeouts, and literally head to toe in a messy knot of garden decorations. And all I could think about was how little he looked in person. I had no idea he was so small when everything he does is larger than life.
So we sat there like old friends talking and laughing for hours, while the entire time he kept telling me how much he loves our wind chimes. He tells me how nice they look, and how great they sound and what a good deal we have on them. I'm puzzled by all this and can't piece it together in a way that makes any sense. Why is he still here talking to me? Why am I sitting on the floor? How does he know my name and why does he know so much about the closeout and liquidation business?
Now fast forward to tonight when, before going to bed, my wife tells me she better head upstairs and get under the covers because Bruce was going to be visiting again. Sounds a little weird, right? Well only until you know the rest of the story -- the whole thing was a dream my wife had last night, and I just explained it to you the way she described it to me this morning.
Jane usually wakes up mad at me for something I did in her dreams. This was a more pleasant experience so I thought I would share it.
Merchandise USA is a wholesale closeout and overstock buyer in business 30+ years. We specialize in buying liquidation and surplus inventory.
When you have been in business as long as I have, it can be challenging to keep things fresh and interesting. Fortunately the closeout business offers us the opportunity to work with new items all the time, which in and of itself keeps things from getting too stale. But even with that, we still have the same routine, work with the same people, talk to a lot of the same customers, and often get "stuck" in the same frame of mind.
Here are a few things I began doing to "change it up" and keep things from becoming routine.
1. Update Information. Our new website store automatically updates new overstock items with images as we input them into our system. This is great news for prospects and customers who can view new items, often daily, with prices, barcodes, case packs and images. Our web store used to change once every couple weeks but now thanks to better systems and technology it is updated all the time.
2. Talk more. There is no question about it -- email was an amazing revolution and it allows us to move things off our desk quickly by sending short messages back and forth with one another. The problem with it is we lose sight of the fact that we are dealing with people who have much more information, personality, and content to offer than a quick sentence followed by a "click". When you talk to people and get their stories it makes the day better and less routine. It definitely takes more time but trust me, it's well worth it.
3. Travel. This year one of my goals is to get out and see more customers so we better understand how they operate and what they do. Sure, we ship closeout and overstock deals all over the country (around the world, to be more accurate) but we don't really know our customers until we get in front of them. I will never forget the time I traveled to Bend, Oregon to visit a good friend and customer with a 20,000 square foot store called 3 Bucks or Less. After the grand tour I was taken to a large overhead door that lead to his warehouse area. As a joke there was a hand-written poster board sign posted "This Area For All Dead Merchandise USA Closeouts". You get to see that most people are just like you and me -- they want to keep things interesting and have a little fun.
Yada Yada Yada is just another way of saying things are boring and predictable. With a little effort and change we can keep things interesting.
Merchandise USA is a wholesale overstock, closeout and liquidation company in business more than 30 years.
Today I was thinking about all the changes that have occurred in the 30+ years I have been in the closeout business. It's a long list, but here are 10 of the more prominent things that stand out in my mind:
Then: When I started in business I kept all my contacts information on 3x5 index cards in a paper shoebox. Now: Today everything is stored in the computer, and it can all be backed up onto a thumb drive that fits in my shirt pocket.
Then: When I started in business if you wanted a customer to see an item quickly, you had to spend money and overnight the sample. Now: Today, we take pictures and e-mail them instantaneously from our smartphones. And we get frustrated if they aren't there in a minute.
Then: We used to ask vendors if they had an (800) toll free number because long distance calls were too expensive. Now: Today we get unlimited calling anywhere in the U.S. for a minimal monthly fee that costs less than a good meal out.
Then: We used to spend small fortunes designing flyers and brochures. I could only send 100 at a time because I didn't have enough money. Now: Today you can e-mail millions of people color brochures and flyers of overstocks and deals for virtually nothing.
Then: Information was more limited and everyone didn't know everything about every closeout. It was possible to find a "sleeper". Now: It seems no sooner do we buy a deal and begin to offer it around, than we are told "yeah, we already saw those".
Then: Once upon a time there seemed to be a higher level of respect for one another. We just seemed to treat each other better. Now: I don't know, it seems to me that today there are more cases of people doing what is best for them and not their neighbor.
Then: I didn't know what I didn't know. Everything was possible, the sky was the limit, and I was overflowing with drive and determination. Now: I now know what I don't know (which is worse). I still believe the sky is the limit, and my drive and determination paid off.
Then: There were a handful of trade shows each year and every one of them was special. Every one, in and of itself, was a big deal. Now: We have so many trade shows that not a month goes by where we don't see our customers. We have too many shows, too often.
Then: The numbers worked much better. Expenses were lower and it was a friendlier environment in which to make money. Now: We spend so much money promoting, buying and selling our closeouts that we can't keep as much in our own pocket.
Then: This is the worst one for me. I was excited to get to the office and begin my work. It was the only thing I ever wanted to do. Now: Don't get me wrong, I'm still happy and grateful to go to work. But honestly, it just isn't as much fun as it used to be.
Merchandise USA is a wholesale overstock and closeout company, specializing in buying excess inventory since 1984.
4 months ago to this day was a normal day for me like any other. I was rushed, stressed, and trying to accomplish more than any one person should ever have to do in a day. At lunchtime I stood up from my desk chair, and that moment began a 4 month long struggle with a back injury that ended yesterday with surgery. Most likely it was years in the making, but it hit me unexpectedly like a freight train.
In the beginning I was unable to get out of bed for weeks, except to hobble 10 steps to the bathroom. Everyday my wife brought me lunch and dinner in bed, and I worked as much as possible from my laptop. This was followed my months of pain in my hip, butt, foot, shin and numbness down my lower leg, all of which I tried to help with diet, PT, acupuncture, medications, steroid injections, stretches, etc. In the end I couldn't take it any longer and needed surgery.
What's my point? For 4 months I couldn't drive so once I was able to leave the house, my wife and employees took me to/from work everyday. As a passenger I would stare out the window watching all those walkers, runners and bikers effortlessly gliding along without giving a single thought to the pain their next move would bring. I watched people multi tasking on cellphones, carrying packages and pulling luggage while I had to carefully plan and execute every movement, each time struggling to get in the car or open a door or take a shower (where I had to sit on a medical bench rather than stand). I closely watched handicapped people and gained an appreciation of what a life of pain really means. I saw the homeless differently, now with more compassion and less judgment. I noticed my own attitude about traffic congestion and aggressive drivers change from one of anger and frustration to one of patience, gratitude and passiveness.
So again, my point. I just went through a huge "time out". Maybe it was the universe shouting at me to slow down because I missed prior warning signs it tried sending me. Maybe it was a stroke of luck for a second chance on how to lead a better life. Maybe it was just fate and I am given an opportunity to either learn from it, or go back to my same old ways and perhaps develop some new illness or disease. Maybe it's nothing other than what it is - a bad back and I choose to read all this into it. I don't know, but I can only tell you the effect it had on me.
Be happy. Be grateful. Enjoy your life. Cherish your health if you have it, and do everything in your power to regain it if you don't. Business and money are great to have, it's fun buying big closeout deals and making sales, but they mean nothing when you are not healthy enough to enjoy them. Make yourself happy and treat yourself well. And start today because I now understand time is shorter than we all think.
Merchandise USA is a wholesale liquidation and overstock buyer in business more than 30 years.
With the Winter almost behind us, it's already time to begin thinking about how we can promote our businesses through the Summer.
As we already know, things tend to slow down in the Summer months because people are out doing other things than shopping. But that doesn't mean retail and wholesale operations need to throw up the white flag and surrender. Think in terms of what many of the majors do - run promotions and special sales. Here are some examples of how we can all promote business:
1. Christmas in July. This has always been one of my favorites because you can sell all your everyday goods, plus get a jump on moving some of the Holiday inventory carried over from last year. Use words like closeouts, overstock, liquidation and get your customer interested. It's an inexpensive way to generate activity with a simple promotion.
2. Inventory reduction. Don't be afraid to use the words and let your customers know you are motivated to move some older inventory. Old merchandise at a new price is often new merchandise. Take advantage of a great opportunity to clear out some dead stock, and give your existing customers a chance to buy it at a discount. This is a real win-win and keeps cash flowing at the same time.
3. Special promotions. Here is a chance to really use your creativity. For example, you can choose 3 random days during the month and offer a 15% discount to anyone whose birthday falls on those days. You can have a special "August" sale for anyone whose birthday is in August. You can offer all customers who come in on a specific day Saturday a 20% Super Saturday Savings. Let your imagination be your guide.
But don't do nothing, because it will likely result in disappointing sales.
Merchandise USA is a wholesale closeout and liquidation buyer in business more than 30 years.
Happiness is elusive. We often strive to be happy and no matter what we do, we just cannot get there. We work hard to meet goals that will make us happy, yet we are left feeling empty. If we are lucky enough to reach the goals, we are already setting new markers we feel must be met. And if we don't meet our goals, we beat ourselves up over it until we feel so bad that it literally hurts inside.
I recently read an article that explained the reason for much of our unhappiness is that it is based in temporary things: reaching a sales goal, getting a new job, buying that new car, and being disappointed when things don't go as planned. The writer went on to explain how if we based our happiness on more permanent things (our healthy marriage, our good health, our strong family ties, appreciation for our good fortune, etc), then the temporary goals we don't meet would have little impact on our "happiness" barometer, and less of an affect on our daily lives.
It amazes me how miserable we all can manage to make ourselves, when all we have to do is live and die and be happy in between. We are so wrapped up in so many things that we allow to make us unhappy that if we could just let go and lead a simpler life, all would be good in the world. If we could figure out how to quit the worry habit and stop constantly planning for tomorrow and just live now, it could really be something special.
Many years ago I read something that always stuck with me. I would like to share it with you here because it is worth remembering:There is no way to happiness; Happiness is the way.
Merchandise USA is a wholesale closeout company in business 31 years.
I'm pleased to be able to say that I get quite a bit of positive feedback on my blog. And this is interesting because generally I write more for my own personal therapy than anything else. In fact, it never occurred to me that I might develop a following of people who would be eager to read what I have to say. So you can understand why I was recently surprised when Shari Doggett from Factory Direct Craft pulled me aside and told me that she looks forward to reading my blog. Really? Wow. How cool. And that was my inspiration for today's entry.
R Now let's be honest, I'm not writing about owners Shari and Paul Doggett because Shari complimented my writing skills. That isn't the reason at all. The real reason I'm doing it is so they will place a very large order with me the next time they see us. No seriously, I'm just kidding. The truth is, I'm writing about Factory Direct Craft because Shari's comment made me pause, reflect and remember the two things I always loved most about this business. It was the thrill of the deal, and the people. The very things I am now out of touch with because I am too deeply involved in operations problems, warehouse and transportation issues, personnel nonsense, administration issues, etc.
Factory Direct Craft is a family-owned online company in business since 1985 (the same year Merchandise USA started). They have been a customer of ours for almost 12 years. Owners Shari and Paul both understand their business very clearly. They are keenly aware that true closeouts are a limited resource, and that today it often takes creativity and insight to make money with closeouts. Because they have such a rich history of buying both overstock merchandise and imports, they are educated buyers with a fundamental understanding of value and opportunity. And let me be very clear about this because it is something not all customers share. Thank you Shari and Paul for getting this.
They are our friends. We always share meals with them when we meet in Atlanta for the Gift Show. On one occasion in particular, their children and other employees also joined us for a memorable evening. When they visit our showroom we are genuinely happy to see them because we like them, and as with many of our other customers, we truly enjoy being with them.
They are our partner. When FDC buys closeouts from us that work for them, we are successful because we add to their success. We try to share deals with each other when we are offered things better suited for the other. In other words, we work well together.
We trust them. I cannot think of one single time there was ever a problem. I cannot think of one single time a payment was late.
They are easy to work with. They appreciate us. They don't take us for granted. They are excited to buy from us. They see value in what we offer them. They are creative. They are inspiring. They understand how to make money. And the list goes on. They are truly one of my favorite customers, because they do everything right. If you want to learn more about their story visit them online factorydirectcraft.com
Merchandise USA is a wholesale closeout and overstock buyer in business more than 30 years.
I remember back to when I was a kid. Every Sunday my Mom and Dad would load me and my two sisters in their 1970 blue Ford LTD, and we would make the drive from the suburbs to the City to visit my Grandparents. Almost 50 years later I can still remember these three things as if it were yesterday:
1. The way my Grandpa's roughly shaved beard scratched against my soft cheek when he kissed me hello.
2. Playing with my dad's old set of big, heavy Lionel metal trains and track. Not the cheap plastic HO scale they had when I was a kid. And certainly nothing like the ones they have today. Wait, do kids play with trains today? Do any toy companies even make them anymore?
3. Every week, like clockwork, my Grandma telling me something that a 5-year old could never be expected to understand: "As long as you have your health......."
So here I am. Another Thanksgiving, another joyous Christmas season, and a year later than the last time I was reminded to be kind to others and be grateful for everything we have. And as I approach my 52nd year, it is finally beginning to sink in. I have seen friends suffer with struggling businesses that were forced to close, I have other friends who have been divorced or lost jobs and face difficult roads ahead. And far worse I have dear friends and family who have been affected by sickness, illness and tragedy. The kinds of things that I now understand much better than when I was a boy and my Grandmother would repeatedly tell me "As long as you have your health".
I think we have to find a way to be good with what we have because what we have is good enough. To be happy with where we are because where we are is far enough. We lead stressful lives with punishing time frames and deadlines. Yes, it is very easy to be ungrateful and feel we need more, more, more. But it is a painful way to go through life; trust me, I know because I live it everyday. I am so busy working on tomorrow and the next day and next week, planning for next month, the next deal, that next show, that I forget to be present where the good things in life actually happen. Where you get to feel grateful for having a loving wife, good friends and a warm, safe home. Where you get to enjoy a hot cup of coffee on a Sunday morning while the sun shines in through the window. Where you get to take an afternoon nap with your dog by your side. Things that may sound corny and silly, but the very things that make us feel grateful in our lives.
I recently watched a TED speaker discuss the topic of happiness and his message was simple. Happy people are not grateful people; grateful people are happy people. I think there is a lot to this, and I’m making a promise to work harder at it. Not just for me, but for those around me. If you want to watch the 15 minute video you can see it here Merchandise USA is a wholesale closeout buyer and liquidator in business more than 30 years.
I want to dedicate this entry to our new Miami showroom which is showing signs of being a huge success.
Although we only joined the showroom 6 months ago, I am already seeing an increase in sales and activity in our South and Central America business. The showroom is a haven for retailers interested in buying houseware closeouts, toy closeouts, stationery merchandise, overstock health and beauty aids, discount home décor, sporting goods, craft closeouts, and all other categories of liquidation merchandise. There are also vendors selling closeout party goods, hosiery, domestics, electronics, dollar store merchandise, furniture and much more.
If you are buying closeouts for Guatemala, Puerto Rico, Jamaica, Belize, Trinidad, Bahamas, Mexico or similar markets, you won't want to miss this opportunity. Currently, we have approximately 25 vendors in the building and there are plans to expand due to increased demand for 2016. The showroom is conveniently located in Miami Lakes, FL, and it is equal distance between the Ft. Lauderdale and Miami International airports.
Although Merchandise USA does most of it's business in the United States, our export business has been one of our best areas for growth. We are always interested in working with new export customers, so if you would like to make an appointment with us in Miami please contact us today. If you are visiting Miami between show dates, we will be happy to make arrangements for you to visit the showroom, meet our showroom coordinator, and have a tour of the showroom.
For more details on participating exhibitors, show dates, and further details please visit www.martofmiami.com
Merchandise USA is a 30+ year experienced closeout buyer and wholesale overstock company.
I'm a dog person. My wife is a dog person. All my closest friends (well, I make a few exceptions) are dog people. Why wouldn't everyone have a dog?
Got me, because they are the goofiest, funniest, dumbest, most loving, softest, warmest, bravest, cutest things on the planet.
Our dog, Summer, is a 5 year old Rhodesian Ridgeback. She's really good at eating, and even better at sleeping, and below is a list of some things that make her so special to us:
1. Somebody once told me Rhodesian Ridgebacks have a sense of fairness. I believe this to be true; there is a healthy give and take in our relationship that keeps everything amicable.
2. Even after a totally crappy and disappointing day, Summer makes me smile.
3. She is willing to do anything and go anywhere; generally speaking if we lead she will follow. And very often, she leads and we follow.
4. She can teach us a thing or two about relaxing, living in the moment, and enjoying the here and now.
5. When she gets excited, Summer still nibbles at our lips and noses just like when she was a puppy.
Merchandise USA is a 30+ year old wholesale closeout buyer. Below is a picture of Summer modeling one of our closeout dog crates.
Let's face it. Keeping our sales numbers up in todays economy is a challenge, to say the least. Retail stores are closing, downsizing, buying
smaller quantities of fewer items, working off existing inventory, etc, etc. But if you are a business owner, you know your expenses keep increasing;
the cost of doing business goes up, payroll goes up, margins slip, and one way or another you have to find a way to do more. If you are an employee,
it is likely your boss is all over you to produce more sales and hit new numbers. What in the world are we all supposed to do.
Honestly, it's a tough grind and I don't have a single solution. I do, however, have a lot of small ideas that when applied together can make a significant difference. Here are some things I am trying to do; maybe they are worth you considering as well.
1. Be more of a doer and less of a thinker. Get in the game and make things happen. Try to concentrate on activities that will create results, rather than activities that just keep you busy and make you think you are being productive (ex: checking e-mail every 10 minutes, creating the "perfect" sales proposal/spreadsheets/image file, prospecting but not aggressively calling, etc).
2. Do outside prospecting and be committed to getting at least 3 sales a month from outside sources other than your regular customer base.
3. Try new things. Try new things. Try new things. Don't just talk about it. TRY NEW THINGS!
4. Work to keep a positive mental attitude at all times. We've heard it our entire lives, but it is true: Attitude determines altitude. Your thought habits control your commitment, happiness, resilience, confidence, and persistence.
5. Make 5 cold calls without fail every single day. Even if these 100 cold calls per month result in no sales, no leads, and hangups, continue making them because you never know where your next new customer will come from. One thing is for certain; they won't knock on your door.
6. Be open to criticism and ask a team member to review your weak points with you. Even the best of us can learn new things; If you are willing to listen and take some advice it will make you a better salesperson.
7. Use your time more efficiently. We often do more "busy" work than we realize and with some thought can create a better schedule. Remember, just 30 minutes per day adds up to almost a month of productive time per year.
8. Use the internet effectively. I'm a huge believe in the power of the internet, but I have little faith in sending a mass e-mail to hundreds of prospects and waiting for the phone to ring. You still have to do all the necessary legwork the old fashioned way - make the calls, meet the people, develop the relationships, etc. The internet and e-mail is a tool to help make your job easier, not the tool to do the job for you.
Merchandise USA buys wholesale closeouts and wholesale overstock. We have been in business more than 30 years.
I'm going to let you in on a secret. I currently do, and always did believe that I am a genuine closeout person. By that, I mean I buy things that other companies can't sell or don't want (because they are over-priced, over-produced, poorly marketed, improperly packaged, etc). And I think if I did my job right, and I offer my customer a value, a truly good deal, then the product will always sell through. Unfortunately, that is not really the case anymore. In today's economy, we have to do much more.
Here are a few suggestions on how to make the most of closeouts:
1. Give your customer a better shopping experience. Have you ever walked through Nordstrom's during the Christmas season? Have you been to a Whole Foods store and watched people walk around sipping wine while they shop? It used to be the liquidation business was all about price, but today you are dealing with an unbelievable amount of competition for your customers dollars. Do a better job of merchandising your products, build appealing displays, play music in the store, improve the lighting and layout so your customer enjoys shopping, keep it clean and organized, create an atmosphere where your customers will have fun, make it easy for them to comfortably move through the store, etc.
2. Markdown slow movers. You are going to make your share of mistakes when buying overstock inventory, but don't let it hurt your sales. Reduce prices on inventory that is no longer selling, and move product around the store to give it a fresh look. You can also run 2 for 1 sales on select items, or offer special discounts to drive traffic to those items that otherwise aren't selling. Consider things like "Christmas in July" sales or "Super Saturday" promotions to create excitement, and give your customers reasons to keep coming back.
3. Be creative. In todays marketplace, it isn't enough to think low prices alone will drive your sales. Start thinking outside the box and consider some of these ideas: Collect e-mail addresses from customers with their dates of birth and send them a card on their birthday with a special discount offer. Create a new website showcasing your special items to bring customers into the store. Have a dedicated person on the floor helping customers, demonstrating items, and interacting with shoppers. Open an Amazon store to increase sales without adding overhead. Run a special Toys For Tots donation program for your local fire department.
Don't get me wrong, low prices are definitely key. But even in the closeout and liquidation business, it isn't everything.
Merchandise USA has been in business 30 years and we specialize in buying closeout and overstock inventory.
Here in America things have been pretty good. Since the economy bottomed out in 2009 we have seen job growth, wage increases, and triple digit increases in our stock market. Even taking into consideration the "blood bath" as the media likes to call it (a 6% stock market drop this past week), things have been good. But rarely have so many large global economies been so ill-equipped to handle a downturn at the same time.
1. Chinese growth is slowing much faster than anticipated. With China's huge population of almost 1.4 billion people, and the country's role as a prominent global player, their slowing economy will have a massive butterfly effect around the world.
2. European debt levels are at their highest since the single currency Euro was introduced in 1999. Although the eyes of the world are on Greece and its potential default on its debt, there are several other countries in the EU that have debts to rival the struggling nation.
3. The economies of both Russia and Brazil are expected to shrink this year. The Russian economy is dependent on oil and gas production for growth. So as the price of crude oil continues to fall, the value of the ruble continues it's downward trend along with it. Current crude oil prices have not been this low since 2009. Inflation in Brazil is currently 9.5% and unemployment is at a 5 year high. It is the largest Latin American economy, and is expected to contract 2% this year.
4. Recently I have heard talk of how the U.S. will lead the world economy. How the U.S. is back again. The problem in the U.S. is that the security we feel due to increased stock price valuations, job growth, new housing starts, personal savings, etc, is a false sense of security. We have been able to experience this growth at the hand of our government who has kept interest rates near zero since 2008. There has been no organic growth; it is all smoke and mirrors. Traditionally, as the economy slows and the inevitable recession hits, the Fed reduces interest rates to stimulate growth. Am I the only one concerned about how we are going to reduce rates from zero?
Merchandise USA is a 30+ year old buyer of closeout, overstock, and liquidation inventory.
Thirty years ago I didn't know much at all about closeouts. But I had this burning desire to get out there, start moving forward, and try to build
some kind of a business. Looking back at things, I would say that as long as you have the drive and motivation, you will ultimately find the path.
In this blog I want to pay tribute to two people who were mentors to me and helped me when I was much younger. I don't think I would have "learned the ropes" and been able to get where I am today without them. Although I haven't talked with either in many years I am grateful to them both for wanting to help me, and for taking me under their wings. For this I will be forever grateful.
Richard Shapiro. Rich was one of those guys who made you want to be just like him. His personality was powerful and overbearing, he wore sunglasses outside to block the sun, and inside....well, who knows why he wore them inside. Always chewing on a toothpick, he would use words like "bread" and "dough" instead of money, which made him seem even more cool. He was well educated, had a phenomenal memory, and was ready at any instant to criticize someone with one of his quips like "he would rather curse the darkness than light a candle", or "he has more degrees than a thermometer". He was a pro when it came to squeezing every last penny out of a deal because he was convincing, shrewd, and boy did he know how to make money in this business. His specialty was surplus tools and equipment, and in his day he was the best at it. Rich always used to tell me "You are going to make it; just know what you will do when you get there". Something he never figured out for himself.
Sonny Neiman. Sonny made just as big an impact on my life as Rich, but Sonny was different. He was warm and funny, and although I know he was just as motivated as Rich, I remember him being more easy going and laid back about everything. He must have been in his early 50's when he sold his building in Philadelphia and moved his family to Florida, where I visited him and his wife Joanie many times. Always with a cigar hanging out of his mouth, he would tell me how people he hadn't heard from in years would find him; he used to tell me how "they crawl out of the woodwork". And when he wouldn't get a deal he wanted at his price it was "It's better in their warehouse than in mine". I never heard him answer his phone with "Sonny Neiman Company"; instead, it was always just a friendly "Hello" or "Good Morning". He was good to me, a close friend for many years, and I'm sorry I lost contact with him. But I know it was my fault, maybe because I was young and impatient, maybe because at the time I didn't understand how to be more loyal to someone who helps you.
Today I am older than either of them were when I first met them. I think about the things they did and said back then, and I compare them to the things I do and say today. And it makes me realize that in the same short span of time that it took me to get from there to here, I can be in my mid eighties like they both are today.
Merchandise USA specializes in overstock and closeouts, and would not be here if not for Richard Shapiro and Sonny Neiman.
Liquidating inventory is a pretty straight forward concept. Too much
inventory, too little cash flow, too little warehouse space. Move
inventory, create cash flow, increase warehouse space. Sounds simple,
right? In theory it is, but over the years I have noticed some common
mistakes companies make when selling their inventory. Here are the top
1. Waiting too long. Merchandise seems to have a finite lifespan. It is very good at the beginning, then pretty good for awhile, but after too much time goes by it just sort of dies. It loses it's freshness because the packaging becomes outdated or discolored, or the product itself simply no longer fits into the marketplace the way it once did. The times just seem to pass the product by, and by then it has lost all of its value. I had an old friend who used to talk about the difference between "worth less" and "worthless". Move the inventory while it still has some value.
2. Holding Out For Price. When you are selling product you no longer want or need, it's really more about moving the product than it is about squeezing every possible dime out of it. Let's say you used to be in the yellow widget business, but today you are in the green widget business. You have truckloads of old yellow widgets sitting dormant, taking up valuable space in your warehouse. In fact, your green widget business is suffering because you don't have enough room to properly expand. Get rid of the yellow widgets for whatever you can get; before you know it you will makeup any losses with your profitable green widget business. Don't lose a deal because you held out for a price you were unable to get. It isn't worth it.
3. Choosing The Wrong Partner. I often hear from vendors how they were promised a deal from their buyer, but months go by and the deal never materializes. In this business, and in today's fast paced environment, there is little reason a seller should have to wait. If you are being promised a deal but you aren't getting your P.O. or money, it's because there is no deal. Make sure you are working with a real buyer who is capable of making a deal happen. Be careful with brokers who often make promises they cannot keep.
Contact Merchandise USA if you are selling closeout and overstock inventory. We are a buyer with 100,000 + square feet of warehouse space.
1. Do you sell closeouts or just buy them? I know it is a perfectly
innocent question, and although it makes little sense, you would not
believe how many times during the course of a week, month, year it is
asked. So I politely explain that we both buy and sell closeout and
overstock inventory, and I would be happy to help in anyway possible.
But In my head I sarcastically answer "Nope, we just buy them and fill
up warehouses with merchandise. Haven't figured out a way to sell any
of this stuff yet, but thanks to the money trees we planted behind the
warehouse we can keep buying". This reminds me of the time I was on a
cruise ship and a passenger asked the Captain "Do these stairs go up as
well as down?"
2. Before we sell you anything, we would require a list of your customers. Can you provide it? Now, I am just as careful about protecting my inventory as the next guy, and I completely understand a vendor wanting to be sure that their closeouts will not come back to haunt them by re-appearing in their market at a fraction of regular price. But really? You want me to just hand you my entire customer list?
3. Can you get more of those good items you sold out of? Again, good question, but it doesn't make much sense. We buy and sell closeouts with limited quantities. We take all of whatever is there. Sometimes items are great, sometimes they are dogs, but when they are gone they are gone. I believe this is implied in the word closeout. It reminds me of the time one of my customers told the story of when he was leaving for a trade show and his store manager stopped him on the way out and demanded "Don't buy any junk". Like he spends the first 2 days at the show picking out the worst items he can possibly find, and on the last day when the show is almost over he says to himself "okay, now I better start getting some of the good stuff before I leave". I've never, ever, ever bought a single item that I didn't think was a winner at the time I bought it.
4. Why is your price so high? I was offered it for a lot less from another company". This one is easy because I have been through it so many times I feel like Jerry Seinfeld delivering the perfectly timed punch line. "Okay" I say, "then go buy it from them". And then, just as expected, they say "I can't, they're out of it". My sarcasm always gets the best of me "Well, if I was out of it I would sell it to you for even less!"
Merchandise USA is a specialist in buying and selling excess stock, closeouts, overstock and surplus inventory.
I am pleased and excited to announce we are ready to bring on the heat in Miami! On June 1st we will be opening our brand new Florida showroom at the Mart of Miami in Miami Gardens, FL. We feel that having a permanent presence in Florida will offer our South and Central America customers the opportunity to see our most up to date closeout deals.
If you would like to make an appointment to see our closeout and overstock inventory, please call or e-mail today. Merchandise USA has been in business 30 years and we specialize in liquidation and surplus inventory. We buy and sell all product categories including home decor, giftware, toys, novelties, apparel, lawn and garden, glassware, party goods, hardware, etc.
The showroom address is 20600 NW 47th Ave Miami Gardens, FL 33055. For more details on our showroom and show dates, please visit www.martofmiami.com or call us at (773) 579-0600.
Other participating vendors include Al-Dan Trading, Euro-Ware Inc, Compass Industries, The Bazaar, Oceanis, OKK Trading, and many more.
Merchandise USA specializes in closeouts and liquidations only.
Jay Lazar Merchandise USA, Inc.
If you are like me, you are always looking for new ways to increase business. How can we get more customers? Where can we find new prospects? What areas are we missing where there is opportunity for growing our closeout and overstock business?
The truth is there probably aren't too many new ideas we haven't already thought about. However, there are plenty of old ideas we have forgotten about. At the beginning of our business careers we didn't know what we didn't know. In other words, we tried anything and everything in an effort to drum up business and generate income because we didn't know anything else. When I started this business it was at the tail end of a recession, but it didn't matter because I didn't think about it or pay attention to it. I just got out there, saw customers, and never gave up.
So what am I saying? I'm saying sometimes it helps to get back to the basics. This week my team spent some time out on the road visiting face to face with both new and existing customers. They carried samples with them, scheduled meetings, knocked on doors, and made some things happen. We live in an era of immediate gratification, electronic communication, and instant messaging. But I think this week we did better by selling the old fashioned way. On the road, in front of people, creating relationships, one on one.
Merchandise USA is a wholesale closeout liquidator in business 30 years.
I have been in the wholesale closeout business for 30 years. That means I've seen 30 fourth quarters where sales and activity always ramp up. And I've also seen 30 summers where the pace slows and sales trend down for a few months.
But there may be good news this year! Thanks to the lowest gasoline prices since 2009, consumers have a lot of extra cash in their pockets. Economic forecasts suggest it takes 3-6 months before the economy feels the effects of all these savings. This year it is estimated the average family will have an extra $750, most of which should go back into the economy. With harsh winter conditions tampering consumer spending, the climate is ripe for money to be spent as the temperature warms up.
In addition, between November 2014 and January 2015, the economy added almost one million jobs - the best three month pace in 17 years. Consumer confidence and personal savings are both climbing, and many Americans are seeing wage increases again. Add all this up and we may have good reason to expect a busier than normal summer.
The truth is today I feel like I came out of a cocoon. The temperature in Chicago is above 40 degrees for the first time in what feels like an eternity, and I was actually able to walk to the coffee shop without a parka and ski hat. As I waited in line I saw people leaving with smiles on their faces and happy dogs on leashes. The deep freeze is finally over and there are even some 50 degree days in our forecast for next week.
So as I look forward to the Spring and Summer months, and as I prepare my "to do" list of a million and one things, there is one must do for me. One priority that somehow has to make its way to the top of my lengthy list of chores, goals, plans and deadlines. It may not make me much money or help productivity, and it won't do much in terms of getting through the workload, but it's crucial that it happens.
It seems I've been so busy checking things off my list that I've lost sight of being present and having a life. So as the trees blossom and the days get longer and warmer, I will concentrate on the priority I have set for myself. Live a little.
Merchandise USA is a wholesale closeout distributor specializing in overstock and excess inventory.
I am excited to let you know that next month we will be exhibiting at the ASD closeout show in Las Vegas for the 82nd time. Yes, you read that correctly -we have been an exhibitor at ASD for nearly 30 years. I have personally moved with it from the original Hilton Hotel, to the Sands Convention Center, to it's home today at the Las Vegas Convention Center.
We started hand-writing our orders with only one small booth selling fewer than 50 items; today we have 500 square feet of show space, we use a computer scanning system, and have more than 3,000 items. We still specialize in closeout, liquidation, overstock and obsolete inventory, and I am proud to say we have retained a niche allowing us to service both large and small accounts, all with the same great deals on excess inventory. We do not sell any regular import items, our specialty and focus is 100% closeouts.
Merchandise USA sells all categories of consumer goods including apparel, housewares, home decor, giftware, glassware, toys, crafts, hardware, novelties, domestics, sporting goods, and more. We have the ability to ship both domestically and internationally, and our wide variety of closeouts allows any retailer the opportunity to be profitable with our merchandise.
If you are one of our existing customers, we look forward to seeing you in Las Vegas. If you don't know us or have not yet purchased from us, please make an appointment to work with one of our great salespeople at the show. You can call us at (773) 579-0600 or e-mail email@example.com You can also visit us online www.merchandiseusa.com
Merchandise USA has been a buyer and reseller of closeouts, obsolete inventory, and overstock merchandise for 30 years.
In today's blog I want to thank two very special people who do all of our computer work.
First is my brother-in-law, and good friend, Mike. Mike handles our trade show computers, office database, and inventory systems. It was almost 15 years ago that we outgrew our store bought Quickbooks program and, from scratch, Mike programmed an inventory database specific to our needs. We grew into this software, and in 2005 he designed our trade show system where we began scanning all our orders with wireless hand-held devices. Today these are very common, but 10 years ago we were way ahead of our time. We are currently in the process of upgrading this system.
I also want to thank my other computer pro, Kris. Kris has opened up a whole new world to me of search engine optimization, Google Adwords management, and social media (including You Tube, Facebook and Twitter). In two years he has increased traffic to our website 200%, and the end result has been a steady flow of new leads and expanded business opportunities. Kris is also there for me anytime I have computer questions ranging from e-mail issues, to hardware problems, to software integration. I am grateful I can reach him at almost any hour of the day.
I can't thank Mike and Kris enough for what they do, and our business wouldn’t be the same without them.
Merchandise USA is a 30 year old closeout and overstock buyer.
This past week was very exciting for me as we welcome a new salesperson to Merchandise USA. Two years ago we lost Chuck St. Arnaud, a close personal friend and employee, to cancer, and we never replaced him. Chuck was amazing, always smiling, willing to do anything to help, never in a bad mood, and happy as long as he was just selling something. He would light up the whole room when he walked in; he made the day better. When you think about Chuck, you see his big smile and feel his warm heart, and then you smile yourself.
We weren't looking for someone when the opportunity to hire Raime presented itself, but as we learn in life the best opportunities are often the ones that plop right down in front of us when we least expect them. Raime is a seasoned sales professional who has been in the closeout industry almost 10 years. In addition to her unbelievably pleasant and warm personality, she brings us new ideas, great energy, and a loyal customer base that is anxious to begin working with her at her new home. She is well versed in computers, and is already working on sales presentations for her customers and new prospects. Raime is fun to be around, she lightens the mood, and I know she will become a valuable asset to us.
When Chuck joined us we all seemed to smile a little more and the days looked a little brighter. I think we may have lucked out again.
I'm not a meetings kind of guy. My company never had them, my employees learned not to expect them, and I even slowly did away with the once a year
annual employee performance reviews. To me, meetings were always a lot like the movie Groundhog Day. I felt like we were making great progress,
until the next day when everyone reverted to their bad habits and it was like nothing ever happened. So I learned to look at meetings as a waste of
time, something that got in the way of actually getting work done.
Until recently. I went out of town and within one day my team was fighting like high school girls over a boy. That's when it occurred to me they were no longer a team; they were just a bunch of people coming to work everyday. So now I keep a running journal of issues, problems, complaints, suggestions, compliments, and "things" that come up through the course of the week. It could be a parking issue, how a customer was mistreated , what one employee said to another, a good deed an employee did, anything I feel is important enough to make everybody aware of.
I informally gather everyone in the office once a week and have a 30 minute session where I air the dirty laundry. I've made it clear I won't hold anything back to protect anyone's feelings, and everything is fair game. Some things have improved, some things I am still discussing from week to week waiting for improvement, some things have lead to other beneficial conversation. But at the end of the day I've learned it is a well spent half hour that seems to be helping everyone - including me. But to me these aren't customary meetings. They are informal discussion groups where I sometimes feel like a marriage counselor. But I like it, and I think it is helping. I'm even beginning to prepare for individual performance reviews again.
Merchandise USA is a wholesale closeout and liquidation buyer in business 30 years.
There has always been a close relationship between the price of gas and discount retail sales. As the price of gas increases, the consumer has less
discretionary cash to spend in the stores. But as the price of gas decreases, this has a positive affect and fuels consumer spending.
The average gas price is currently under $3.00 per gallon for the first time since 2010. Studies show that consumers will spend two thirds of what they save at the pump; thus cycling money back into the economy and driving economic growth. Plummeting gas prices are, in effect, the same as a wage increase because it puts more disposable income in the consumers pocket. One Moody's analyst suggested lower gas prices will pump an estimated 40 billion dollars back into the economy in 2015.
And in the short term, lower gas prices should have a huge impact on retail holiday sales over the next 6 weeks. Lower and middle income earners are the most likely to spend a large portion of their gas savings, and this will drive 4th quarter sales at dollar stores and discount stores.
In our industry where retail sales have been sluggish for the past few years, this may be the beginning of a Very Merry Christmas season.
Merchandise USA is a 30 year old buyer of closeout, overstock and excess inventory.
Although I founded Merchandise USA on my own in 1985, it was 10 years ago that I brought on an individual who really helped my business. I met her in
1989 where she was managing a busy Chicago deli, but it wasn't until almost 15 years later that she quit her job and came on board at Merchandise USA.
This Summer we celebrated our 20th wedding anniversary.
Let me tell you a little bit about Jane. First, I can count on her like a clock ticking on the wall. She is reliable, consistent, determined, persistent, and trustworthy with anything. Second, she is smart. Jane handles all of our receivables, payables, insurance, and employee days off, while still doing some buying and selling too. Third, she is kind and fair and caring and understanding and loving and supportive.
Although we work together, we are in separate offices and most of the time we do our own thing. We often joke that rather than talk to each other we text or e-mail from 10 feet away. Do we have times when we get frustrated with each other? Of course. Do we have some differences? Sure we do. If Jane hasn't had lunch by 12:15 she gets crabby. I can let a breakfast banana sit on my desk for days until it turns brown, and not eat lunch at all. I'm an over-stapler and it drives her crazy. She uses paper clips that never keep anything together. So what.
People often ask me "How do you work with your wife"? They tell me "I could never do it", or "I would be divorced", and "you must be crazy". Well, my feeling is quite different. I wouldn't want it any other way.
Merchandise USA is a wholesale closeout and liquidation company in business 30 years.
Let's face facts; we all have the same 24 hours in each day to do the things we need to do. Work, read, spend time with family, exercise, eat, go to
school, take personal time, etc, etc. So why do some of us always feel stressed and rushed, while others are able to be highly productive and get
everything done? Here are 5 things you can do that will start you on the road to higher productivity:
1. Wake up early. Not only will you add hours to your day, but by starting the day while most others are still asleep you will gain quality time. The old saying "the early bird gets the worm" may have been silly childhood rhetoric, but it is profoundly true. Get in the office early and you can accomplish task after task before anyone else comes in. Go for an early run and you can be showered up and have breakfast all before 7AM. Wake up while it's dark and be on the road by 6AM - if you have any kind of driving commute you will likely save yourself and hour or more in traffic.
2. Stop watching television. I love a good movie as much as the next guy, but most of the content on television today is a complete 100% waste of time and adds no value to our lives. The news is depressing, the network shows are mostly bad, and if your cable is anything like mine, you have 200 channels and there's never anything on. Instead, spend your time paying bills, going to the grocery store, catching up on e-mails, reading, or doing chores that you would otherwise leave for your valuable weekend time.
3. Do one thing at a time. Somewhere along the way we have all been brainwashed into believing that multi-tasking makes the best use of our time. But I think one of the biggest changes we can make is simply to start doing one thing at a time. Multi-tasking is a fun buzzword, and it gives others the impression that we can handle an over-abundance of responsibilities. But in terms of being the best use of our time? Not so much. Try to prioritize what you need to do in the next 3 or 6 hours. Start with the most important task, focus on it, finish it, and go on to another one.
4. Quit worrying. It's a bad habit, it accomplishes nothing, and it is a waste of time. It sucks up your mental energy and this in turn makes you physically tired. Remember, worry is a habit like any other habit, and you can break it. Keep in mind what Mark Twain said many years ago and it will help you when you catch yourself worrying. "I've lived through many things in my life, some of which actually happened".
5. Limit your inbox time. Email has become an important tool for all of us, and I rely on it as much as you for both personal and business communication. But clicking the send and receive button every 5 minutes doesn't make a lot of sense. It isn't a slot machine, and it's unlikely someone is sending you an e-mail that you won a lottery. So use e-mail as a tool to send relevant messages, and check for responses periodically (once an hour, or once every couple hours). If it requires more immediate attention that this, you may want to consider picking up the phone.
Merchandise USA is a wholesale closeout, surplus and overstock company in business 30 years. We specialize in buying and selling toys, housewares, gifts, home décor, furniture, stationery, and much more.
This Year Merchandise USA will celebrate it's 30th year in business. After considerable thought I have compiled a list of the 10 most important
things you must do everyday to be a success. Here is how I was able to do it:
1. Don't stop looking over your shoulder. Your competition will leave you in the dust if you take your eye off them. Know what is happening in your industry, and pay close attention to your competition. Do not allow them to be better than you.
2. Work your butt off. Owning your own business doesn't buy you a ticket to days off, vacations or free time. It is a free ride to long days and an unending work load. Embrace it or you will never make it.
3. Stay positive. It's very easy to get beaten down and knocked around. Do whatever is necessary to walk through the door every morning with a good attitude.
4. Get up early. Start your days early and you will find you are much more productive before everyone else gets to work. I find I can get more done in one hour alone, than I can all morning with the distractions of employees and phone calls.
5. Be disciplined. Repetition can be boring but it is also an important part of being successful. Find what works and what is profitable, then repeat the same behavior day after day and year after year.
6. Never, ever, ever give up. Period.
7. Live it, eat it, sleep it. For better or worse I think about my business all the time. I am always working on it and trying to make it run better. I don't get to turn it off - it lives and breathes with me.
8. Change with it. Years ago a friend told me that in business either you move forward or you die. At the time I didn't understand, but now I know what it means. There is no coasting or keeping your business where it is. You must always push for more; otherwise you are dead.
9. Save your money. When you are fortunate enough to experience success save some money. Good times generally don't last forever and it pays off to have a security blanket.
10. Be grateful. If you are fortunate enough to be successful there were likely people in your life who helped you. Maybe it was a hard working employee, perhaps a supportive spouse, possibly a family member who lent you money, someone who mentored you, or maybe all of these. As much as you may think so, you didn't make it alone.
Merchandise USA is a wholesale closeout company in business 30 years.
I like to refer to myself as a runner but I don't think I have really earned that. Runners take on half marathons, marathons, triathlons, road
warrior races and other distances more than I can handle. But I run. It's only 3-4 miles at a time, a few days each week, but it's enough to keep me
in pretty good shape and it definitely helps me cope with the everyday stress and aggravation of being in business.
Now I'm no expert, but I can just about promise that if you are out of shape, you can easily improve your business by exercising. You will feel better, gain confidence, improve concentration, and have more stamina. In my opinion these are monster benefits well worth the effort. Finding the time isn't easy, especially when traveling; but if you make it a priority no different from managing employees or paying bills, you will be grateful for the results. Feel better at work, and work gets better.
The nice part about running is you can do it anywhere, anytime. I have run in different cities and numerous countries both morning and night. All you need are running shoes and a cell phone with GPS, and you will always find your way home without worry. Plus it's a great way to challenge yourself with something outside of work. Give it a try and improve the look of your bottom and your bottom line both at the same time.
Merchandise USA is a wholesale closeout company in business 30 years.
It's hard to believe, but the ASD show is just around the corner! Merchandise USA has been an exhibitor since 1985, and we have participated in 2-4
shows every year for almost 30 years. Although I have lost track of the exact number, I think this will be our 80th or 81st show. This trade show is
a great opportunity for us to see both our regular customers, as well as many overseas accounts who only order from us twice a year when they attend
As usual, we are well stocked for our customers and our inventory is filled with closeouts and overstocks in all categories including housewares, giftware, handbags, hardware, novelties, home decor apparel and much more. Merchandise USA specializes in buying discontinued and obsolete inventory from import and wholesale companies. We then pass along the big discounts to our customers, who sell product in their stores for up to 75% off regular retail.
Our booth is located in the Las Vegas Convention Center, #SU-711, and If you are interested in learning more about the show please visit the ASD website or contact our office at (773) 579-0600 for details. You can also visit us online at www.merchandiseusa.com
When you are in business as long as I have been, you see some interesting things. Here are just a few of the craziest deals we ever bought......
1. Smelly teddy bears. I don't remember the exact time we bought them, but it was a good 20 years ago. I got a call one day from a warehouse in Minnesota that had two containers of teddy bears. These cuddly white bears were huge, soft, adorable and really beautifully made. The problem with them was that when they crossed the ocean, somehow the shipping containers got water in them, and all the bears smelled horrible. The bears never got wet, they just smelled something awful. So I bought them very cheap and had both containers sent to a workshop where they were all removed from their boxes, sprayed with citrus, and allowed to air out for a few days. Then they were re-packed in new plastic, new boxes, and re-palletized. Like nothing ever happened!
2. Scorpions. This one was so amazingly pathetic I can hardly believe it really happened. We had a great deal on a toy called "I Dig Insects". It was a big boxed Raiders of the Lost Ark kind of thing that included a pair of kids goggles, a hammer, a pick, and a fake rock with plastic scorpions encased in it. The idea was for the kid to "excavate" the toy and dig out the scorpions. A real adventure. Until we shipped them all to a large discount chain and I got a call from the panicked buyer that the scorpions crawled out of the cases and were in their warehouse. I tried to explain to her this was impossible, but my argument fell on deaf ears and they returned (at my expense, of course) several hundred cases. In the week or so this drama went on I began wondering if it was possible the factory really used dead scorpions and some survived the trip from China. So when they all came back I immediately had my guys take them outside, open cases, and crack open a bunch of the rocks. Sure enough, they were filled with colorful plastic scorpions. Most likely, since we bought these from a warehouse in hot and humid Florida, some harmless bugs got into the cases and that’s what the buyer saw. The large chain store customer? Out of business.
3. Disappearing soap. It was one of those deals I was really excited about. I mean it had everything going for it - good packaging, great product, cheap price and a large quantity. They were packages of kids soap in the shape of various animals like ducks, bunnies, puppies, etc. Some came one per package, and others came in a multi 5-pack. It took me awhile to get the deal worked out, but eventually it was all finalized and the product was picked up in one 53 foot truck. A few days went by and the soap hadn't shown up, so I contacted the freight broker. Everyday for the next week, we tried to locate the driver and make contact. Nothing. Not a word. At about the same time we finally agreed to put in a claim for the stolen merchandise, the truck showed up. Apparently the driver had a girlfriend somewhere along the way and decided it was a good time for a visit. The best part of the whole story? The soap was a terrible seller and we liquidated it below cost. This story is a gentle reminder of something I often say. Some of the best deals are the ones you never get.
If you are like me, sometimes the stress of work, relationships, employees, and life in general can get you down. Every now and then we can all use a
little “pick me up”, and I find inspirational quotes from famous sources can really do the trick. Read on to find words of wisdom about life, goals,
friendship, determination, overcoming fears, and more.
"In prosperity our friends know us; in adversity we know our friends" – John Churton Collins
"I’ve lived through some terrible things in my life, some of which actually happened" – Mark Twain
"All our dreams can come true if we have the courage to pursue them" – Walt Disney
"If you cannot do great things, do small things in a great way" – Napoleon Hill
"Life is what you make it. Always has been, always will be" – Eleanor Roosevelt
"It’s not whether you get knocked down, it’s whether you get up" – Vince Lombardi
"You miss 100% of the shots you don’t take" – Wayne Gretzky
"You cannot plough a field by turning it over in your mind" – Proverb
"The only way around is through" – Robert Frost
"Be the change you want to see" – Ghandi
I'm not sure just when and where I noticed it, but the other day I found myself thinking about the economy and actually feeling pretty good about it.
Homes and condos in my neighborhood are moving quickly, sellers are getting asking or over-asking prices, and the value of my home seems to be back up
to near what it was pre-recession. My family and friends are working again (yes, we are all working harder and making less or the same), but our
lives in the "new normal" seem to be moving forward. I read that the National unemployment rate is 6.3% and I'm wondering if there is really
something to this.
I see fewer empty storefronts than I have for the past 4-5 years, and the stores feel busy again. I see consumers walking up and down streets carrying shopping bags, restaurants are busy, sports and entertainment venues are booked up again. Automobile manufacturers are experiencing record sales, hotels seem to be busy and although the news tells me something different, all the young kids I know either in college or recently graduated are working.
In our business the demand from the customer side seems to be improving, and the flow of excess and closeout inventory on the supply side is strong. But it's strong in a good way. During the Great Recession we were were buying liquidations because companies were closing and strapped for cash. Today's deals seem to be more about planned inventory turnover, or improved package design for the next generation of a product cycle.
All in all I have to say I'm optimistic for the first time in quite awhile. And it feels good.
In 2012, after a long illness, my Dad passed away at 81 years old. At first I wasn't going to write this blog because I didn't want it to be a
"downer". But in thinking about it I decided it would be the opposite, and an appropriate topic for me to share. He was really a good person with a
kind heart. I think in the end I can say he was his own worst enemy, and deep down he probably knew this about himself. For years he had anger
management and anxiety problems, and for as long as I can remember he battled depression. But the other thing he did as long as I can remember, was
take an interest in everything I did. "How is the business", he would ask me. "How are the sales", and the one he always asked first, "Is the money
coming in"? He even made the initial contact for me with one of our largest vendors (and now good friend) we still buy from today. I can't recall
exactly how many years ago this was, but I do recall the first P.O. being faxed in because there was no e-mail yet.
Then in 1998 I was looking for a warehouse. After I spent what seemed like every waking moment driving streets and talking with realtors, I kept coming up empty and was ready to give up. Everything was either too large or too small, too expensive or in need of too much repair, too far away, not enough office space, too much office space, too old, too new, etc. When my Dad learned I couldn't find what I wanted he began his own search which ultimately lead to us buying one of the buildings we still operate from today.
I'm proud to say I think of my Dad often when running my business. Sometimes when I see a P.O. for that valuable vendor, and sometimes when I park my car in front of the building I bought 15 years ago. But most often I think of him when I am reminded of the good judgment and business sense he taught me. Merchandise USA is a 28 year old company and we specialize in closeouts, liquidations and overstock.
This past winter was not an easy one in the trucking industry. And this made things challenging for all of us in the wholesale closeout business.
Getting truckloads in and out of Chicago was unbelievably difficult. Overseas containers were just as hard to get, and the effects still ravage on.
Equipment continues to be extremely tight, and although we are told it is all about the harsh winter it doesn't seem to add up. Back in January, when
we were told there was no equipment due to weather conditions across the country, it made sense. But I have a difficult time understanding how we are
still experiencing shortages from weather 60-90 days ago.
The closeout business relies on the timely movement of inventory. When we buy a good deal, we want to pickup right away and conversely, when we sell inventory we want our orders out as soon as possible. This is the first time in our almost 30 year history where we have had so many completed orders sitting at the dock awaiting pickup. It affects the small customers who consolidate full truckloads in Chicago, as well as the larger International closeout customers who cannot get equipment to move full containers. And if we are lucky enough to get trucks, the rates have skyrocketed to as much as 50% increases.
Unfortunately, I think the effects of all this will painfully register in 2nd quarter retail results, where we may see lower sales and diminished margins. They say Hope springs eternal. Here, here.
This past week we exhibited at our 68th ASD Show in Las Vegas. As always, this major trade show at the Las Vegas Convention Center was humming with
excitement, and we had the opportunity to see many of our long-time customers and friends. Our display was filled with closeouts and overstocks of
giftware, home decor, hardware, toys, games, crafts, apparel, housewares, and much more.
The lucky winner of our i-Pad drawing was Glen Guthrie from Dollar Plus in Fort Worth, TX. Glen's appreciation and sincere thanks are well noted, and he made a special point of telling us that in his many trips to Las Vegas, he "ain’t never won nothing". We love you, Glen.
Our next show will be held in River Grove, IL, where we are an active participant in the Midwest Market Days venue. Mark your calendar now and be sure to see us in Chicago May 19-20. Merchandise USA is a 28 year old closeout and liquidation company and we have amazing deals for variety stores, discount stores, supermarkets, export customers, and wholesale distributors.
You are about to embark on the ride of your life. As a young man about to enter the closeout world you have so much energy and drive, I know you will be successful. You are going to experience wild swings like you cannot imagine: amazing days, horrible days, highs, lows, strings of success, and strings of failures. Remember what one of your mentors always told you. He often said "There is no question you will be a success - but know what you are going to do when you get there".
There will be times when the pressure will be so great, you don't think you will be able to carry on. And there will be other times where your business makes you feel so amazing, that it will be better than the high any drug can give you. Here are some of my best suggestions for you as you begin:
1. Try not to let your business define you. Enjoy everyday of life regardless of whether Merchandise USA has a good day or bad.
2. Treat other people well. There is an old saying that goes like this: The people you see on the way up may be the same people you see on the way down.
3. Be grateful in your high moods, and graceful in your low moods. In other words, don't get carried away with your success; remain calm, professional and courteous to others. And the same rules hold true for when you fail.
4. Don't lie, cheat or do anything illegal. There will be some times when it seems everything is going wrong and you can't keep it together. Business stinks, sales are horrible, you aren't getting deals, and you are down in the dumps. Then an unethical or immoral opportunity presents itself, and you start trying to justify it to yourself. Take my advice now - pass and have faith that things will improve because they will.
5. Save your money. I know at your age it is hard to understand, but trust me. Save your money because things change and you never know what may happen. You will be ahead of the game.
6. Take time off. Your heart and soul is going to go into this business, so make sure you plan time along the way for yourself. Take some trips with your family and keep in touch with your good friends. You can have all the money and success in the world, but you have to share it with people.
I can promise you time passes quickly, and before you know it 30 years will go by. When you get to where you are now, take a hard look at everything and steer your ship accordingly. Merchandise USA is a 28 year old wholesale closeout distributor.
Let's face it, we all want to have more big accounts. Not only do they allow us to move more goods and drive sales, but larger accounts often allow
us to grow our business more quickly. But want and desire don't cut it when it comes to playing with the big boys. Here are some helpful tips you
can use when trying to catch a whale.
1. Focus. Take some time to carefully research the customers you want to go after. Learn all about them so you have a good understanding of their operation. Become familiar with how they started, learn about their growth and development, have a clear picture of their customer base and how you can add value to what they do. This is your best bet for a successful partnership with them.
2. Look The Part. This means get your act together before you put yourself in front of a new prospect. Be an expert on their competition so you know how you can add to their success; be familiar with their website and know in detail what they sell and how they sell it. If you are selling closeout and overstock inventory, take the time to make a professional presentation including excel spreadsheets, pdf files, photo galleries, etc. Likely your prospective buyer will be a bigger company than you, so their buyers will investigate you. Make sure you are prepared.
3. Be Enthusiastic. Sure it sounds obvious, but don't forget to be excited about your company and your products. You live, breath, eat and sleep your business and it is with you 24/7. But everything you have to offer is brand new to your prospective customer and they don't know the first thing about you. So it needs to come across the way Bruce Springsteen plays Madison Square Garden - like you are making the presentation for the very first time and can't wait to get the word out.
4. Quit Fear. It's easy to feel nervous and uncomfortable when making a presentation to a new account. But fear has no place in the business world, and you must get past it. If you come across and being nervous and afraid, your buyer will think you are nervous and afraid. You may not get the sale or land the big account for other reasons, don't let it be this one.
5. Be Determined. No matter what the outcome, go after another one.
Merchandise USA is a 28 year old distributor of closeout, overstock and excess inventory.
It's surprising how many businesses keep employees who don't show up on time, can’t work a full day, don’t get the job done,
talk on their cell phones, etc, etc. Employees aren't perfect and we all experience many of the same problems. But here are some compelling reasons to
let them go.
1. Dishonesty. If you believe an employee is stealing from you (time, money, or product) it is time to let them go. In today's business climate it can be very difficult to keep it all together. The last thing any of us need is an employee who not only doesn’t help our bottom line, but takes from it.
2. Lack of Enthusiasm. A successful business must be filled with good energy and enthusiasm. This runs all the way from the top level management down. It runs through the sales team, administration, and distribution. When a team member has no enthusiasm for his/her job, and is simply going through the motions, it is time to let them go.
3. Sexual Misconduct. In recent years this problem has attracted attention, as many cases have been brought forward and employees have been held accountable for their actions. If you believe you have a harassment issue in your workplace, document and investigate as much as you can. Not only is it important to dismiss the responsible employee, but you also want to keep the rest of your team comfortable and prevent the person who was the subject of the discrimination from suing.
4. Incompetent. Let’s face it, some people just don’t get it. If you have an individual who is unable to perform the necessary tasks, you have a responsibility to train him/her. But if you have made a reasonable training effort and they simply don't get it, it's not your problem. Let them go.
5. Negativity. While this trait is not in itself necessarily a reason to fire someone, it can become a real drag on the company, especially in a small workplace. If it escalates to the degree where an employee is gossiping and/or spreading malicious rumors, then it may be cause for termination. But at the very least this employee must be monitored very carefully.
An old friend of mine had a great spin when letting an employee go. He used to tell me he was going to allow them to be successful elsewhere.
One of the biggest
problems we continue to have today is collections. Any small business today relies on timely payments to keep business running smoothly. Afterall,
what good are all the sales if we aren't getting paid and our cash flow doesn't "flow". Here are 3 tips that may help you improve your cash flow and,
in turn, allow you to better manage your business:
1. Negotiate special payment terms with key customers. This means anything from offering a 2% cash discount for quick payment, to offering special discounts on future orders and even offering your customer some type of award or bonus program for paying within terms. At the end of the day everyone likes a special perk - even slow paying customers.
2. Factor your receivables. This may be an expensive alternative, but once the customer is approved for shipment you will be paid in a timely manor by your factor. This takes the guess work out of when you will be paid by whom, and assures steady cash flow.
3. Liquidate closeout and overstock inventory. This may seem obvious, but we all have a bad habit of sitting with extra product that can be quickly converted to cash and put to better use. It isn't so much about what we paid for it way back when; it is more about what can we get for it today. If you have inventory to liquidate, contact Merchandise USA today (773) 579-0600. We have been in the closeout business since 1984 and are experts in the field.
One of the biggest growth areas I have seen in our business has been the number of customers who sell our
closeouts on-line. When we first started doing business with internet re-sellers, it seemed they only wanted name brand, easily recognizable items.
If it wasn't a household name, they didn't want it. So we learned quickly where we could sell our overstock and closeouts that were branded, and, in
some cases, were even getting more money for them.
Now things have changed again. Not only do we do business with more on-line sellers, but these customers are willing to try new things. It seems they have learned that anything and everything can be sold on-line. So now if we get closeouts on novelty baby rompers with cute sayings on them, we see them being sold over the internet. Or school locker wallpaper and light up chandeliers. Even a deal we had on plush Koala bears. And why not? If you have shopped on Amazon lately there isn't anything you can't buy.
So in one respect we have opened up a new market in which to do some business. But in another light, the on-line market is taking business away from our everyday brick and mortar customers.
Merchandise USA is a 28 year old wholesale closeout buyer specializing in purchasing excess inventory, overstock and liquidation inventory.
In many respects, things are looking up. The real estate market has shown huge signs of improvement. I see all types of new construction and
conversions in my Chicago neighborhood, and the Southeast and Southwest parts of the country have shown particularly strong growth, with assessed
values jumping as much as 50%. Gas prices have been steady and affordable. Inflation has been low and interest rates have remained low, allowing
consumers buy homes and make repairs.
But in our business, we are seeing that our retail accounts customers may not be participating in the same kind of rally. As we continue to search out better values on closeouts, liquidations andoverstocks, our customers continue to become more selective. The lower and middle class customers who shop our stores have been through a very challenging period. Although some are in better financial shape than they were a few years ago, they seem to have simply adjusted to buying less.
If you are selling closeouts today, it is more important than ever to be sure you are aggressively priced. If your overstock is any type of discretionary product outside of food or consumables, we are finding it will only sell if we can offer our customers very deep discounts. Selling closeouts today is a lot like selling a house. If you have the right product at the right price, it will sell. But if you have weak product that is overpriced, you are going to have a hard time with it.
Merchandise USA is a closeout specialist in business since 1984, and we are experts when it comes to selling excess inventory and overstocks. We buy closeout housewares, toys, giftware, domestics, sporting goods and much more.
This August Merchandise USA will be in business 28 years. I would like to take this opportunity to thank all of our customers and vendors for
their loyal support. Over the past quarter century, the closeout business has changed more than I can begin to explain in this short blog. I have
seen my share of companies come and go, but there are a select few customers who have been with us since the very beginning, and to them I would like
to give special thanks. And also congratulate them on zigging and zagging their way through years of confusing and difficult changes in business.
As the economy continues to improve and things loosen up, it seems we are seeing more signs of what used to be. Happier customers, better orders, more exciting closeout deals, and more opportunities. It makes me feel good to do business with people who started in business at the same time I did; I know we share common war stories and fought similar battles. But most of all, I can appreciate everything they have gone through to get where they are. Because I traveled down the same road.
Merchandise USA specializes in buying and selling overstock, closeout and wholesale liquidations. If you are interested in buying closeouts we have one of the most diverse lines in the industry; if you are interested in selling overstocks and closeouts, we are among the most experienced in the industry.
Here is a list of what we believe are the 5 most important things when trying to move your overstock inventory:
1. Get organized. As a closeout buyer for 28 years we have seen just about everything. Be sure you are making an offer to your buyer that is clear and easy to understand. Nothing kills a sale faster than confusing your customer.
2. Get educated. Understand your product line so you can explain to your buyer what you are selling.
Details like quantities, original costs, pallet counts, etc, are important. If you don't know what you have, there is hardly a chance we will be able to figure it out.
3. Use technology. In today's world almost anyone can operate a computer, take pictures from a phone, and generate an excel spreadsheet. Use these advances to put together a simple presentation of your excess stock. Your buyer will be much more likely to respond favorably to your closeout opportunity.
4. Be realistic. It is important to understand that when you contact an overstock buyer like Merchandise USA you are talking to a liquidator. So keep in mind you will only be able to get a fraction of your original wholesale prices. If you are not prepared to offer significant discounts, you would likely be better off selling to your regular customers in small quantities.
5. Be careful. Although there are many very good surplus and closeout companies who have been in business for generations, there are just as many bad ones with poor reputations. We suggest you do your homework before working with a liquidation buyer. Find out how long they have been in business, get references, talk to other vendors who sell them, and be specific about when you should expect payment. Merchandise USA has been an obsolete stock buyer for almost 30 years, and we will be happy to share with you whatever information you need to feel comfortable with us.