Page 60 - Demo

RETIREMENT & OWNERSHIP TRANSITION EVENT
BENOLD’S JEWELERS
––– Austin, Texas –––
Milton Doolittle wanted to retire, but had no family members to take over his jewelry store. A long-time employee was interested in purchasing the business, but couldn’t come up with the financing to acquire both the business and the inventory. The decision was made to conduct a Retirement Sale to lessen the amount of money that the buyer would have to raise. This allowed Milton to leave with an amount that was necessary to carry on his lifestyle in a manner to which
he was accustomed.
“At first, I was apprehensive with the high sales projections given for the first week, but we exceeded the entire week’s sales figures within the first couple days.”
– Milton Doolittle
The Gordon Company Assignment:
• Prepare a marketing plan that would bring volumes of traffic not seen in Benold’s 87-year history
• Sell as much of the owner’s aged original inventory as possible to monetize product in preparation for the owner’s retirement
• Set the stage for the business to be taken over by Benold’s long-time staff member with minimal disruption
• Provide a pleasant and knowledgeable in-store consultant to execute the entire sale event plan
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