So you want to go out of business? First off, big hugs lady because I know this is a HUGE decision and not one made lightly. It’s extremely bittersweet in many ways because you put so much love and effort into your business, and regardless if you’re moving onto something else, it’s still hard to let go. And just to be clear, choosing to walk away isn’t failure, it’s a choice.
But let’s talk about how to go out of business with LuLaRoe the right way. Now, these tips aren’t limited to those of us only with LuLaRoe, they go for any inventory based business! This is a daunting topic and it shouldn’t be! But in all honesty, it’s likely the reason why so many of us stay with our company longer than we should.
How to Go Out of Business with LuLaRoe the Right Way
Steps for How to Go Out of Business with LuLaRoe the Right Way
1. Go live in your group and announce you’re going out of business! If you’re changing brands, don’t tell them what yet because you need to sell off your LuLaRoe first! And then immediately change your group to secret! You don’t need to be one of those GOOB groups that are searched. Don’t make it hard on the ladies still in this business and loving the brand. You once loved it as well.
2. Remove all retailers from your group. This isn’t about being shady, this is about helping them stay in their own lane.
3. You Pick, I Pick bundles per style. This should include at least wholesale pricing, processing fees and shipping costs. The reason why you’re launching with this is so you are able to move two items at one time.
4. Bundles of 3 and customers pick all of the items. See the stipulations above for how to determine pricing.
5. 40% off across the board.
6. Wholesale pricing plus shipping and last call for EVER shopping LuLaRoe in your group. You have to mean this – give them a final timeline and a sense of urgency!
7. Begin using multi-consultant discount groups – they exist, you guys. Don’t fall on your sword. I wasn’t in any until after going out of business with LuLaRoe, but they exist regardless if you use them.
8. Sell at a discount to retailers in bundles.
Selling Off Inventory is Exhausting
This isn’t going to happen overnight and you’re going to get burnt out while selling off. It’s just the way it is. Once you’ve moved everything from your group after that final sale – take a deep breath and give yourself a break before diving back into it. It’ll still be there, I promise. That fresh energy from taking a week or two off at a time will be extremely motivating. You might even need to take more than one break – I did!
I’m Here to Help
This is an overwhelming, time-consuming and emotional process, but you’re not alone. Trust me, you are not. If you want or need to reach out, you can best reach me in my opportunity group, which is Sassy Serendipity. If you’re considering another business venture, such as Paisley Raye, don’t forget to read up on how to find a sponsor.