Exit Methods
Sell to a new owner
This is the first choice for most retailers, but
it's also the least viable.
- Can you find a buyer who can actually afford to
buy your store?
- Can they get the financial backing?
- Can they pay back their loan and still draw a
salary
based upon predicted sales?
- What will they pay you for your inventory?
- How long will it take to find a buyer?
Sell the business to
family
Certainly, this is an option for a limited number of
retailers.
- First, you must find an heir who wants to
go into the family business.
- Second, you must objectively qualify them
just as you would any buyer. Do they have the necessary expertise and
financial background to make your business successful?
Declare bankruptcy
No retailer wants to go this route. If you are
insolvent or nearly so, call us for help. It may not be necessary to declare
bankruptcy.
Hire Quitting Business,
Inc.
This is the only logical choice for most retailers.
- Sell your inventory to an already established
market - your present customers. We will return our fee back to you many
times over through a carefully structured business plan designed just for
your particular situation.
- Call us to discuss any of these four exit options
- we can give you the advantages and disadvantages of each method and then
you can decide for yourself which is the best path for you.
Don't even think about it
We don't even mention liquidating the store by
yourself. Over the years we have watched many retailers try to do their own
liquidation. Each would have done better getting help from professional
liquidators. It is not unusual for us to receive phone calls from retailers
who say, "Can you come and help us out? We started a liquidation, but it
isn't working."
At this point, it's too late. Regretfully, we must say, "Sorry, there is
nothing we can do." |
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Hi Mike,
"It seems very weird to be... not emailing you with sales figures every day
and not seeing you every week. I'm sure you know by now how big of a success
our last day was!! It was just as you said it would be... just like the
first day. People were standing in line at the door at 8 a.m.! And, yes we did sell everything, even the pegboard off the walls!!
I want to say "thank you" for the very professional and expert help
throughout the sale. I don't know how many times I've said this and have
heard my mom say it, "We couldn't have done it without you!!" It was a
huge task, but I feel that we accomplished a lot for my dad.
Thanks again Mike, I can't say that enough."
Furniture store owner |
