Today we’d like to introduce you to Tim Bonuccelli.
Tim, please share your story with us. How did you get to where you are today?
In late 1996 I was looking to start a new business and searching resources for opportunities. Unable to find something that really sparked my interest, I responded to an ad for freelance management. I thought it might be a good opportunity to make some money until I found the business opportunity I was in search of. The ad turned out to be a national company searching for someone to manage a fixture and equipment liquidation sale taking place in Sacramento California near where I lived. My background was 18 years of retail and retail management experience, so the retail environment was a comfortable fit.
After meeting the area manager at a local restaurant and an hour of a very brief summary of what the project would entail, I was hired as a consultant. The project would last 6 weeks to liquidate a closing Best Products store. I was handed a manual to read that night and we met again the next morning at the store to start. The area manager spent about an hour with me and then left, saying,”Good luck, call me if you need anything.” That was the extent of my training to liquidate a 2 story 70,000 square foot store still open for retail liquidation.
I jumped in and set up the fixture sale and starting selling the store fixtures. Every couple of weeks he would stop by and tell me that my sales were outstanding and the store looked great, and he would say, “Keep up the good work, call if you need anything.” I remember thinking I am selling and collecting large amounts of money and it seemed like I am out here all alone. I almost immediately enjoyed the process, setting up a professional liquidation sale, negotiating each and every sale, and managing the few people I had to help with making sure the building was on schedule to be left empty and broom swept, as they say, “to the bare walls.” Whether it was sold or thrown into a dumpster, that was what was required. I also remember being concerned the company that hired me was in Michigan and I was in California, and if I would really get paid.
The company that hired me offered a bonus for the top-selling 3 stores of the 169 Best Products stores being liquidated. Bonus or not, I was driven to do my best and get the best possible results. As the liquidation was completed, the area manager said I had the store with the highest national sales and the job I did on the clean out aspect was outstanding.
After the liquidation, I went back to looking for possible retail businesses to open or purchase. A number of months passed as I continued to search, and area fixture liquidation was in the process of starting. The previous company I was hired by contacted me about managing another liquidation. The company was Payless Cashways, locally in my area the banner was Lumberjack stores. They assigned me a large store not far from my home, and again I was able to achieve the highest sales nationally and excellent results in the cleanout process.
After this liquidation was completed, the company asked if I was interested in managing a liquidation of a store in Gainesville, Florida. It was winter where I lived, and a business trip to Florida didn’t sound bad. The project was Montgomery Wards, Electric Avenue, and More stores, another large multi-state liquidation. Again I was able to achieve the highest sales in all stores.
After the successful Florida project, the company asked if I was interested in consulting to oversee a region of Computer City stores in the San Francisco area. I actually passed, saying I am content doing a single store where I have control of the process and less headaches of managing multiple stores. They continued discussing the project, and said if I did this region they would assign a single store for me to do afterward. I agreed and completed the region of stores.
My region of Computer City stores ended up being the top selling stores in all the regions of closing stores. After the Computer City liquidation I was assigned a single store, but after it was completed, the company asked me to meet to help evaluate another large upcoming liquidation project in Nashville TN.
After this meeting, I was assigned to be the Lead for 117 Service Merchandise stores, which was based in Brentwood TN, just out of Nashville. The project was extremely successful, and more liquidations were assigned to me. I went on to oversee large liquidations such as 327 Ames stores, the remaining 212 Service Merchandise stores, a number of national retail Distributions Centers, and more. Other more unique liquidations include a large New York armored car and ATM company, and a large motorsports products liquidation. One day I was selling armored cars and trucks, the next a machine gun from the Al Capone era, and the next month dirt bikes and quads. Later, I spent a year liquidating Kmart’s million square feet World Headquarters in Troy Michigan as Liquidation Director. This also included offices of nearly 4,000 employees, an on-site broadcasting and video studio, and a million dollar art collection. On this project, we found an actual Picasso tapestry. When the Associated Press released the story, Jay Leno on the Tonight Show included the news in his opening monologue, making a joke of course.
I have had many memorable experiences overseeing and liquidating projects in many US cities. Before the tragedy at the Boston Marathon, I was lucky enough to have worked in Boston. I personally sold the fixtures at the closed Rite Aid store on Boylston Street, the parking lot connected to Fenway Park. Spending weeks working on Boylston Street really made what took place personal. Besides an amazing city, so many of the people I met I will never forget. I truly understand what Boston Strong represents. We were just recently in the Boston area, doing an onsite fixture sale in North Quincy, and completed another successful project.
After 15 years of consulting as a liquidation consultant, the company that contracted my services closed. With so many years of successful projects, experience and contacts, I opened my own full-service asset recovery-liquidation company. 180 Asset Group continues to liquidate stores and assets across the USA. We also specialize in asset valuations and appraisals.
Has it been a smooth road?
Like in most jobs or businesses there are days in which you think why I am doing this? I must be crazy! Like most businesses, there are times when you can’t keep up and business is great and there isn’t enough time in the day. Other times things are slow and stress and worry can easily consume you. It’s important to stay focused and take the “I will do whatever it takes to succeed” attitude to get things back on track. It’s not if, but how.
So, as you know, we’re impressed with 180 Asset Group – tell our readers more, for example what you’re most proud of as a company and what sets you apart from others.
Our website says it well, but to summarize, 180 Asset Group is an asset recovery company, a company specializing in obtaining the highest possible returns for our clients. We hold onsite liquidations of fixed assets. We frequently outright purchase the assets, and typically sell them onsite where they are located. This also means we are required to complete the sale in a limited amount of days, and the site empty and broom swept.
Over the years, I have worked with and competing with most of the other companies in fixed asset liquidation. Through hard work, dedication to each client or project, we achieve top results. Our focus on detail, high ethical standards, and commitment to each project is unsurpassed. I have a team of top performing people that have worked with me for decades.
Let’s touch on your thoughts about our city – what do you like the most and least?
Boston is truly an amazing city. From the architecture, history, great food and of course the people. The old school and college buildings amazed me time and time again. Samuel Adams, of course, and I grew up watching Cheers, so I enjoyed visiting the actual Cheers along with the other location that was more like a movie set. The character and personality of the people I met in Boston make it unforgettable. I look forward to returning.
I was there during the Big Dig and navigating the streets was nerve-racking. Sometimes an intersection had four ways to turn, and when you have to make a quick decision, it’s bit scary. A Boston winter is one of the coldest in memory, I remember on one visit the wind, rain, and cold felt like it went right to your bones.
Contact Info:
- Website: 180assetgroup.com
- Phone: 1-800-676-7042
- Email: sales@180assetgroup.com
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