“The carpet mills especially had a lot of excess inventory that was not moving. And so I was buying a lot of that at discounted prices. Saving my customers some money. But still it increased my profit margins by a lot”

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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What was described

bought excess carpet mill inventory at discounted prices and passed savings to customers while boosting margins

Said nearby on the same subject

“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”
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“We could do discounts and generate cash from our inventory… we pivoted to leverage the assets we had, which were inventory to generate cash.”
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“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.”
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