University Surplus Reimbursements: “Show Me The Money”

Generate More Revenue for Your Surplus Operation

Regardless of how your surplus department is funded, bringing in more revenue is never a bad thing. For self-funded departments, it means a greater operating budget. For fully-funded departments, it could mean larger departmental reimbursements. Either way, it likely means more waste diverted from landfills and more support for your department on campus. We call that a win-win!

Of course, it’s not that simple. To bring in more revenue, you either have to sell more items or sell the items you have at a greater price. We put together a few quick tips aimed at doing just that.

Increase Demand (and Supply).
We weren’t planning to go all “economics” on you, but it makes sense. Increasing traffic to your surplus warehouse can lead to an increase in demand. With higher demand, you can either sell items at a higher price point or increase inventory turnover. Often, space is at a premium so getting items out of your warehouse can be critical to being able allocate space to new items.

Invest in a little Sweat Equity.
We’ve seen it in action, giving that car a wash before listing it on your online auction site or repainting that filing cabinet before putting it out on your sales floor can increase the amount someone is willing to spend on it. Don’t be afraid to invest a little upfront to get a greater return later.

Leverage Historical Data and Reports.
Be strategic about how you price and where you sell items. Which items will get you the greatest return in your store? Via live auction? Sold online? Which items sell better in lots? Should items that sell quickly be sold at a higher price point? Leverage the historical data you’ve maintained in your surplus asset management software solution to maximize your return.


How has your College or University Surplus Property department generated more revenue? Be featured in an upcoming blog post by sharing your stories of success with us via email at info@assetworks.com.

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