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1099, not the year of the Siege of Jerusalem during the First Crusade but independent sales reps that call on your store on a daily basis. The definition of 1099 by the IRS standard is an independent contractor that works on employment that is not salaried income.

For our industry, that means on commission. Many of my friends are commission sales reps, but we all know the past few years; the economic climate has affected all of us. But now more so on the traveling salesman! I’ve talked to too many of my friends and the story is all the same. One has told me he is down 65% in sales this year alone. To put this in easy terms, a rep making $100,000, three years ago is now making $45,000, or less. I know this does not affect the retailer as they go about selling inventory, buying gold and selling beads. But it does affect the salesmen who are not getting restock orders due to slow times for new inventory and stock replacement. What is a rep to do?

In a recent story, a retailer was unhappy that the sale rep opened another account in the same small town. The retailer was very upset! But we must look at the situation for the rep. He must feed is family and pay his mortgage. With his current retailer not buying stock, he must look for other outlets. It’s no different than an animal scrounging for food to feed him and his young when the current area no longer provides a food source. He must look elsewhere! This is no different for a rep. He must find the business to survive. If his current account is not going to support him, should he continue to support the retailer?

A rep told me after getting a third of what he wrote last year, he would continue to support the store and not look to open a new account in the area since he got something, and was much appreciated. But for those who have not written a single dime this year, what is a rep to do? He must find a new food source.

These are difficult times and your sales rep must take desperate measures tofeed his family. Don’t expect the rep to support you if you’re not going to support the rep.

In the year 1099, Tancred accompanied the match to Jerusalem, partly out of faith but to find further opportunities for his family. Today is no different.

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Wilkerson Testimonials | C. Aaron Peñaloza Jewelers

Wilkerson Paves the Way for the Future

After serving the San Antonio, Texas community for decades, C. Aaron Peñaloza Jewelers closed its doors earlier this year. Aaron and Mary Peñaloza, the store’s owners, chose Wilkerson to handle their retirement sale. “In the first six days, we did six months’ worth of business,” says Aaron. “In the first three weeks, we did a year’s worth of business.” Mary Peñaloza says Wilkerson’s ability to tailor the sale to their store’s requirements really made it all so much easier. “They are professionals,” she says. “They know what they’re doing. They have a plan, but they will listen to you and adjust that plan to your needs.”

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1099

mm

Published

on

1099, not the year of the Siege of Jerusalem during the First Crusade but independent sales reps that call on your store on a daily basis. The definition of 1099 by the IRS standard is an independent contractor that works on employment that is not salaried income.

For our industry, that means on commission. Many of my friends are commission sales reps, but we all know the past few years; the economic climate has affected all of us. But now more so on the traveling salesman! I’ve talked to too many of my friends and the story is all the same. One has told me he is down 65% in sales this year alone. To put this in easy terms, a rep making $100,000, three years ago is now making $45,000, or less. I know this does not affect the retailer as they go about selling inventory, buying gold and selling beads. But it does affect the salesmen who are not getting restock orders due to slow times for new inventory and stock replacement. What is a rep to do?

In a recent story, a retailer was unhappy that the sale rep opened another account in the same small town. The retailer was very upset! But we must look at the situation for the rep. He must feed is family and pay his mortgage. With his current retailer not buying stock, he must look for other outlets. It’s no different than an animal scrounging for food to feed him and his young when the current area no longer provides a food source. He must look elsewhere! This is no different for a rep. He must find the business to survive. If his current account is not going to support him, should he continue to support the retailer?

A rep told me after getting a third of what he wrote last year, he would continue to support the store and not look to open a new account in the area since he got something, and was much appreciated. But for those who have not written a single dime this year, what is a rep to do? He must find a new food source.

These are difficult times and your sales rep must take desperate measures tofeed his family. Don’t expect the rep to support you if you’re not going to support the rep.

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In the year 1099, Tancred accompanied the match to Jerusalem, partly out of faith but to find further opportunities for his family. Today is no different.

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Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

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