YOUR BUSINESS AUTHORITY
Springfield, MO
Last edited 2:58 p.m., Oct. 19, 2020
A first-time business owner launched a retail store in Ozark filled with overstock merchandise from companies, such as Amazon, Costco and Target.
Josh Tuning opened Ozark Trading and Liquidation LLC Oct. 10 at 1949 W. Boat St. The 6,000-square-foot store is behind Lambert’s Cafe, just off U.S. Highway 65. He said his business partner is Ricardo Rodriguez, who owns two Ziggie's Cafe restaurants in Springfield.
“We buy the overstock, and there’s some return items on the truck from time to time,” said Tuning. “Our game is to get it in and get it out – always be changing our inventory, always be having fresh, new products.”
Tuning said Ozark Trading and Liquidation works with an undisclosed broker who buys pallets of liquidated retail merchandise directly from retailers, including Academy Sports & Outdoors, Wayfair Inc. and Home Depot. His store’s five employees then break down the pallets and sell them by the piece, he said, generally at 50%-60% off the manufacturer’s suggested retail price.
“If it sold at Walmart for $100, we’re probably going to be $50-$55 on that item,” he said, noting the merchandise is bought sight unseen. “So we never really know what we’re going to get.”
In the store’s first week of operation, products have included furniture, electronics, home goods and tile. While the store doesn’t seek to acquire damaged items, Tuning said any products that have blemishes would be sold at a steeper discount.
“Anything any of these stores sell can be on our truck,” he said.
Startup costs were around $75,000, Tuning said. He’s on a one-year lease for an undisclosed rate with Estes Capital & Investment LLC. Groovy Tire and Auto formerly occupied the space, he said.
Ozark Trading and Liquidation isn’t a full-time gig yet for Tuning, who maintains his sales job with Fort Worth, Texas-based food and beverage distributor Ben E. Keith Co. Tuning said he was inspired to pursue his new shop by the success of a friend with a similar business in Alabama.
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Great idea - Good luck