You should keep an ongoing list of customers (and non-customers) looking for used toolboxes. When you've sold the new box, start calling your list to sell the old box. Most likely that used box will be sold within days, if not hours. "Let's get down to what you've truly got into the box, not...
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You should keep an ongoing list of customers (and non-customers) looking for used toolboxes. When you've sold the new box, start calling your list to sell the old box. Most likely that used box will be sold within days, if not hours.
"Let's get down to what you've truly got into the box, not what I've shown the customer, but what you've got into it," says Scott Mata, formerly of Cornwell Tools.
On your books it looks like a $2,000 box. But it's not. It's $1,000 box – the extra $1,000 was an allowance. And you don't need to mark up the box. You can sell the box for what you gave your customer and still be making money, Mata advises.
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Margins might be low for toolbox sales, but gross profit tends to be high.