Harvey Rovinsky and his wife, Maddy, owned three great jewelry stores, two in the Philadelphia area and another in New Jersey. They had long considered how to sell or transition their business to new owners, but without a clear direction. Then it dawned on them that their succession plan was right in front of them. It was six longtime and loyal employees who would be gifted the business when the Rovinsky’s planned their retirement.
But Harvey and Maddy had some goals to hit before they could execute their plan. They needed to liquidate the majority of their inventory, raise significant cash, and then turn over the business to their six key associates’ debt-free.
To do this, they engaged The Gordon Company to conduct a major sale event in two of their stores. The Gordon Company devised a custom advertising and marketing plan that significantly increased traffic during the holiday selling season and delivered financial results that far exceeded projections. In fact, Sales over the previous year were doubled in all three locations. Also, 850 new customers purchased products during the event and were added to their mailing list.
The Gordon Company sale allowed the Rovinsky’s to achieve all their goals while fulfilling their financial objectives in retirement. It also allowed the business to continue to serve the communities they loved and to continue the legacy of Maddy’s father, Bernie Robbins.
If this story resonates with you and you need help thinking your retirement through, please give us a call or drop us a line. We would love to help you.
We would love to make you our next success story.
Call Steve Webb or Ira Bergman today to learn more about how The Gordon Company can assist you with your Retirement Sale!
Sincerely,
Jeff Gordon, CEO
