Show Summary
Instrumental Teacher and Business Owner Sharon Marrell joins Episode 10 of the Profit First Podcast. Sharon shares how to improve inventory sales in your retail space.
Our Guest
Sharon Marrell is the owner of Marrell Instrument Repair LLC in Lakewood OH. She has taught instrumental lessons for over 35 years and repairs musical instruments. She speaks at conferences providing band directors with tips and techniques on instrument repair.
Sharon is the Lakewood Chamber of Commerce 2014 Outstanding New Member and chairs the Education Committee providing workshops for local business owners.
Sharon is also Certified Profit First Professional Coach.
Show Quotes
Having a small retail space helps limit what you put out on the sales floor, and prevents going overboard on purchasing.
Buying for the customer, knowing what they want – that’s what you should have in stock. Don’t stock up for that one person that comes in twice a year, or buy items because it’s what you like.
When you have too much inventory and too much set on the shelves for a long period of time, it weighs you down. Get rid of the stagment inventory through creative sales or take the loss – just get it out of there. Even selling an item online is a quick way to get some income in. Then replenish with what the customers want.
When working in close quarters with your competitor, it helps to reach out to the community. Pay attention to the customers that your competition is not. Offer faster service with quality.
Show Links
Sharon’s Website: www.marrellinstrumentrepair.net
Show Sponsors
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OK now that I listened to it – the letter R – I had it right away not under pressure – duh – Recorder!
Sharon did a great job identifying instrument sounds, and made good sense with her business strategy. I love the “fall out of love with your business and fall in love with your customers.”
ROCK ON Sharon! Love your energy and enthusiasm.
IVANA!!!!!
Sharon – You NAILED the quiz. No preparation or anything. We had so much fun with you. I hope we can have you on the show again!