Tuesday Oct 18 2011
Wise Buys set to move into Folsom
By: Eric Laughlin, Telegraph correspondent
The current sour economy has obviously made penny-pinching the norm for many families in the region, but there’s a new business coming to town that will likely make it a little easier to make ends meet. Wise Buys Liquidators is a new kind of deep-discount retailer that offers a wide array of name-brand merchandise and food items, and most are only $9.98 or less. The chain has already measured success in Roseville and Citrus Heights, and will in a few months be opening shop at 1012 Riley St., a space currently occupied by Office Max. The store was created by “bargain king” Gary Cino, who found success with 98 Cent Clearance Centers before selling the chain to the Dollar Tree in 1998. Cino said his goal is to help consumers brave tight economic times by at the same time helping manufacturers balance their inventory. “It’s simple, we want to save as many people as much money as we can by giving them a big bang for their buck,” he said. Cino said expanding the business model from 98 cents to $9.98 gives the chain the opportunity to feature more inventory like clothing that consumers can pick up at rock bottom prices. He said there will be some items, however, that carry prices tags above the $10 mark. “In this economy, we’re basically getting offered so much inventory at such great deals that they’re too good to pass up,” he said. Examples include a recent shipment of ping pong tables that were each valued at $400, but sold for $98. Cino also said a shipment of 200 high back microfiber chairs normally retailing for as high as $130 were all sold in a few weeks for $29.95 each. Cino said the inclusion of such items priced at more than $10 came after an overwhelmingly positive response from his customers. But he added that 98 percent of merchandise will still sell for $9.98 or less. Rhonda Powell of Placerville said she will definitely add Wise Buys to her list of Folsom stops. “It’s just hard to shop at the normal stores these days,” she said. “The way things are nowadays, I’m going to be hunting down every good deal I can find.” Cino said he hopes to open more stores in the Sacramento region in the coming years. Although a final date for grand opening is yet to be announced, he said it will come in the first quarter of next year.