The Waldoff Group: Why Hire A Professional?

Often we are asked ‘Why Hire a Professional’?

The first thing that always comes to mind is ‘Do you use an accountant or CPA and an attorney in your business and personal life?’

Immediately followed by the thought is the need for a physician, indeed a specialist when we are not feeling right or when we are sick, like a cardiologist, gastroenterologist, neurologist, OBGYN, ophthalmologist, etc.?

We all use professionals, so why not a professional when your business is having problems or sick?

Actually, using a professional is so important it seems silly to even ask the question, yet it comes up. While doing this web site the professional responsible for the production of this web site suggested we address this question. So -

The world of retail is fierce, competitive and unforgiving. More so today than at any time since the Great Depression of the 1930’s, surviving is not a given, nor is a successful closing.

If you have watched your sales decline, making little or no profit, feeling like you are working for the landlord, scrambling to meet payables, loaning your personal money to your business, missing your own paycheck, having to accept C.O.D or having to put store purchases on a credit card to get shipped, avoiding creditors’ calls, losing focus, feeling trapped, no longer having fun and losing sleep every night, you need help!

Good management means knowing when to call for help. The Waldoff Group is ready for your call. Our over 50 years of experience in retail ownership and marketing has been very hands on. We've steered our own businesses through both good and bad times, you can be assured of working with a professional retailer who's been there, done that. We've fought the problems, been hurt by some and know exactly what you're going through. More importantly, weave learned a lot through the years and can offer you real solutions for the real world.

Like your accountant, lawyer and physician we have the knowledge, experience and expertise to assist you.

You are busy with the day to day operations and problems of your business, all the things you do. Do you really have time to focus your time, effort, attention and resources on finding solutions that will work, implement them all the while still responsible for all your current responsibilities?

Your problems are unique to you, however other merchants and business owners have had similar problems. The Waldoff Group and Milton Waldoff have worked with nearly 200 independent specialty and department stores, we’ve probably seen every type problem you have and many you have never even imagined.

Why go to through the time, trouble and hassle of attempting to re-invent the wheel when you can call a professional who can help?

Perhaps a better question is where will you find the time? You are probably like we were and every retailer we have met, over loaded with work with little time for your family or yourself.

So, ‘Why Hire A Professional?’

First, a professional brings an extra set of eyes to your problems.
Second, the professional has dealt with the same problems and found solutions that work.
Third, the professional can devote the time and effort to addressing your problems while you continue to operate your business.
Fourth, the professional knows what must be done to assist you in developing realistic goals based on your situation, your problems, your needs and your desires.
Fifth, the professional knows that often in attempting to come up with the right solutions, there is usually a litany of problems that must be addressed immediately, while the solutions are being developed and put in place.
Sixth, the professional knows cutting costs is not turning around a bad situation. It can help, but the solution is something else.
Seventh, the professional knows reducing dollar losses is not turning around a bad situation. Like in Answer 6, “It can help, but the solution is something else.”
Eighth, the professional knows that for a business that wants to survive a solution is often a combination of improving sales, improving focus, turning inventory more often, creating more satisfied customers that are motivated to return time and again, improving communication with the existing customers all the while attracting new customers and increasing gross margin so it is in excess of expenses and cost of goods sold.
Ninth, the professional knows every situation cannot be turned around, some situations simply call for liquidation and management must have the experience, knowledge and expertise to know what works and what does not.
Tenth, the professional knows the tested and perfected methods in working through problems often requires an unemotional approach, rarely achievable by owners.

When a business needs to be closed, whether it is the owners desire or simply something that must be done, a professional knows how to maximize this once in a life time opportunity. We have done so many store closings that our successes in this regard have become a matter of great pride.

A well planned and well executed store closing takes planning, which include many hours of time. Well planned involves timing, merchandised correctly, advertised wisely, working with the stores management and personnel in a manner to maximize results.

Too often store owners undertake this once in a life time opportunity with very limited experience and a lack of knowledge of how to make a store closing profitable.

The Waldoff Group custom tailors our efforts to the needs and desires of the owner!

We do not do cookie cutter consulting!

Milton Waldoff personally visits with every store owner in their store(s), making sure we have a full understanding of the situation, the competition, the community, the needs, desires and wants of the owner. We then structure our efforts to that agenda.

Clients always deal directly with Milton Waldoff, he is responsible directly to the client!

The retail apparel business continues to change and becomes a greater challenge every year, especially now during these turbulent times of ever increasing fuel costs, food costs, dramatically increased home foreclosures, rising unemployment. Increased wages for employees and a continuing decrease in disposable income nationally. All of which makes it more and more difficult for the independent store owner to survive.

Even in the case of long established well operated stores where management might be considered professional, where they feel they really know what they are doing and are good merchants, survival is often impossible. Competition is severe and customers don't have a sense of loyalty, good sales associates are difficult to attract and keep, indeed the retail apparel business is difficult, at best.

We assist in developing realistic goals based on the your situation, needs and desires. Working with the stores inventory, sales, mark downs, etc., developing sales goals, inventory management, open-to-buy, taking advantage of the market, merchandising, merchandise presentation, marketing, advertising, etc., to assist retailers achieve realistic goals.

As professionals we tell clients what we see, which is not always what they want to hear.
Retail is very challenging for retailers, it may become less so, but I don't know anyone who believes that.

As you will see from some of the quotes, notes and letters from some current and previous clients on this site, as they share how pleased they are/were with our consulting, thoughts, suggestions, efforts, planning and most important, with the results.

The Waldoff Group only accepts work we are qualified to perform in which the client can be served most effectively. We will agree formally with the client the nature of the services to be provided, and the basis of fees in advance of commencing work. Our fees and expenses are reasonable, legitimate and commensurate with the results and services we deliver.

If you are serious about addressing your problems, you should take immediate action.

There are few other merchants that are as uniquely qualified as Milton Waldoff. Take a few moments and review his background and experience.

Call Milton Waldoff direct at 601-434-3000 for a free consultation. Calling today involves absolutely no risk and no commitment.