What Is A Fire Sale?
Business owners both online and off have long understood the value of holding a fire sale. It’s a highly effective way to accomplish a number of business goals. The least of which is raising a lot of money quickly.
You’ve no doubt seen these fire sales. Car dealers advertising, “Everything must go.” The online e-tailer who is clearing out their product catalog and practically giving everything away.
A Fire sale is defined as “an emergency clearance sale at greatly reduced prices. Originally, a sale of product that had been damaged by fire or that could no longer be stored because the storage facility had been destroyed by fire necessitating immediate sale or loss of value.”
However, as you well know, most fire sales have nothing to do with fires. It’s an old phrase that was carried along and re-applied to a way of doing business. Now it might be more clearly defined as a sale of assets at extremely low prices.