If you had the chance to go back and do it all over again, would you have the same operation? If you’re honest, probably not. You need a candid analysis of your business. When PMP Sales works with a dealer on a Restructuring event, we refer to the Three R’s of Furniture Retail as:
Reconfigure Merchandise
Revamp Advertising
Retrain (or Replace) Sales Associates
As merchants, you must do this analysis not tomorrow, but today. Some stores can not do this by themselves, so they hire companies like PMP. We bring a wealth of experience and objectivity that enables you to not only survive, but thrive in this tough climate. If you plan… you can survive!
The Process and Importance of High Impact Sales and Your Goals
To restructure your business gives you a second chance. Over the last few years, about two-thirds of the promotions PMP Sales ran were restructuring events to keep retailers in business. That is why we now refer to ourselves as the “Doctors, Not The Undertakers.”
PMP Sales not only provides the resources to run a high impact sale, but also gives you guidance throughout your restructuring process in areas such as location, unique potential, overhead, personnel, merchandise and more, as outlined below:
Focal Points When Restructuring Your Business
- LOCATION – Relocation guidance if needed
- FIND YOUR NICHE – Shopping competition to see your unique advantages
- MARKET POTENTIAL – Is there room for you to survive?
- OVERHEAD ANALYSIS – Where can you save money?
- PERSONNEL – Hire and train better employees, don’t settle for mediocrity
- MERCHANDISE PLAN – Old goods just look old
- NEGOTIATIONS – Get more time to pay your landlord and vendors