This is a transcription of an audio testimonial given by….
Frank Schofield, Schofield’s Drexel Heritage and Schofield’s Furniture,
FS= Frank Schofield, of Schofield’s Furniture
RH=Roy Hester of Planned Furniture Promotions
FS – Good morning!
RH – Good morning Frank, Roy Hester. Well, in your own words, would you mind telling us what your experience with Planned Furniture Promotions was?
FS – Yes.
RH – I’ll be quiet and turn it over to you. We want to hear what we’ve done for Frank Schofield and Schofield’s. Or what Planned Furniture Promotions has meant to you.
FS – Yeah, well, we, well we just hooked up with them when we moved from Expo, when we closed out Drexel Heritage and Schofield’s on Expo and moved to Town and Country. OK, well, we used the firm in, I can’t remember the years, but we were very happy with them and we moved the business to Town and Country in Sacramento and we were there for over 10 years. And then I had the mishaps of having eye problems that affected my sight and I wasn’t able to watch the business and we decided that because of my health it’s time to close it up. So we phoned Mark Bannon who we worked with approximately 10-plus years earlier and he got us all set up and assigned Harvey to us and came in and did an inventory and we had no question, we didn’t shop around, because we’d had previous experience and in the meantime we had run a couple of inventory reduction sales that we had professional people come in and do, and, but that particular firm used…well in inventory reduction, there was no outside money or anything, it was just inventory, but when they do a going-out-of-business sale they use your money, and Furniture Planned Promotions [sic] uses their money, and so we weren’t interested in anyone like that, and we were so successful with Furniture Planned Promotions [sic] and what they did for us when we …. the one store and moved, that it was set in our minds from the beginning that there wouldn’t be anyone else. And they came in and I would say it would be between 60 and 90 days, took over the running of the business, and there was no other inventory used but ours and then when our inventory was way down they had completely gone through the Schofield customer list and they started their promotion. The final figures were roughly $7.3 million and we had a very handsome profit in the share of that. It’s something that if we’d try to do on our own, we’d have sold maybe a million, a million and a half and then we’d end up with the rest of the inventory we didn’t know what to do with. And it was just tremendously successful when it was all over, the fact that they don’t buy anything that aren’t in sets and everything. I only had $23,000 worth of inventory left, which is absolutely nothing compared to what we’d had if we’d tried to do it ourselves or hired one of these companies that go out and buy with your money and everything. To me, there’s just no question who to use. I mean, if you have no investment other than your name and your reputation, you’re going out of business, somebody else is carrying the ball for you, it’s just that simple. It was just a tremendously successful event.