“We organized the inventory, sold it to our employees, sold it to our customers at a discount. We raised quite a bit of cash that way”
RA
Rich Ashton
Your Business Growth Podcast ·
Harold Smith · Booked Out: A Podcast for Home Service Business Owners by Sure Shot Systems with Ben Desjardins · Fired, Then Asked Back as a Partner: 40 Years of Floors | Harold Smith, Smith Carpet & Tile
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bought excess carpet mill inventory at discounted prices and passed savings to customers while boosting margins
“We organized the inventory, sold it to our employees, sold it to our customers at a discount. We raised quite a bit of cash that way”
“We could do discounts and generate cash from our inventory… we pivoted to leverage the assets we had, which were inventory to generate cash.”
“We have passed on that cost in a very marginal manner to the customer because we understand that the mass of the buying happens in tier 2 and below.”
“Half-price wings on Tuesday's deal is driving customers into stores, but chicken prices are at an all-time high. The more wings they sell at half price, the more money they lose.”
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