Some people are not interested in paying recently inflated prices, and they’re looking for a deal. They’re getting the deals they are looking for along with the thrill of a treasure hunt at Turn7. Rick Forman, who founded then sold Forman Mills clothing outlet for $250,000 million, recently opened Turn 7 locations in Philly at Philadelphia Mills and Moorestown at the Moorestown Mall. He plans to expand the deep discount retail chain with three to five more locations in the Philadelphia region in 2022.
“We want shockingly low prices,” Forman told The Press of Atlantic City. “There is always a large vendor who is in trouble.”
A recent Instagram post shows a Turn 7 customer finding an iPad worth almost $800 for just $5. Turn 7 is made up of sections where items are $5, $10, $20, $25, or up to $100. You dig through boxes of merchandise to find incredible deals on everything from car mufflers and tires to NFL jerseys of retired players, iPhones, or jeans. A Ninja Foodi two-basket air fryer sold for $50 at Turn 7, while it sells online for more than three times that. Customers dig deeper into those bins to find “gems” that offer the best deals, creating a fun treasure hunt experience. Merchandise is turned over every seven days at Turn 7, hence their name, so you’ll always find new deals.
Turn 7 stocks merchandise from larger retailers looking to get rid of stuff from online returns, overstocks, bankruptcies, store stock pulls, and closeouts. He purchases items from retailers like Amazon, Target, and Costco. Some of his customers even sell the merchandise they buy at Turn 7 at higher prices to make a profit. Forman refers to it as “Disruptive Retail.”
Turn 7 has also taken advantage of landlords looking to fill vacancies and short-term leases to open its current locations. Forman plans to open a distribution center in South Jersey and is eyeing North Jersey, Delaware, Philadelphia for new store locations as well as other large metropolitan areas, according to The Philadelphia Business Journal. According to a press release, items that don’t sell at Turn 7 are given to various charities.
250,000Million Dollars? Nope!