Both Shirley and I love closeouts- I buy clothes and other things at TJ Maxx, Marshalls and other discount stores. I even shop the ‘day old’ rack at grocery stores. As the economy and consumers tighten up their wallets- is this an opportunity for you? Buying eyeglass closeouts is a completely different purchasing and mark-up strategy. Closeouts have a certain risk factor, usually you buy in bulk and you can’t return. In many cases- you can’t pick out the product or styles.
Pro’s of Buying Optical Closeouts
- Great way to bring down cost of sales.
- Financially Challenged?- Good way to fill up the Frame Board
- Way to increase 2nd and even 3rd pair sales- or even offer a family plan
- Offer quality eyeglass products for insurance programs
- Way of getting free ink (Publicity)
- Good Promotional tool for optical marketing events
- Provides a competitive edge against online eyeglasses sellers
- Provide- online sales strategy like selling on ebay
Cons of Buying Optical Closeouts.
- No Returns
- Parts availability may be limited
- If not listed in Frames, could be a problem with insurance coverage
- Usually have to purchase a minimal amount.
- Don’t get to choose which products you want.
- Could get ‘stuck’ with slower movers
- Having too much stock of close out frames may deter from your current and best selling products.
How to Buy Closeouts
- Educate yourself on Vendors who offer closeouts, price points, retail markups, warranty, and FRAMES listing.
- Inform all staff- many staff are opposed to closeout products and will hide, not show or promote the product.
- Set a Budget and a space allotment.
- Determine how are you going to use – promotional events, sale rack, 2nd pair sale promotion, Sunglass promotion, online sales
- How are going to price them?
- How are you going to warranty them?
- If they don’t sell- how are you going to get rid of them- since you can’t return.
Where to get Eyeglass Closeouts: