Are you considering retiring from running your retail business?
If so, you’re not alone.
Here at Silverman Consulting & Retail Services, we’re a retail business liquidation sales consulting firm.
We help retail store owners retire through managed retail store retirement sales events.
And we’ve seen significant shifts in the retail space over the last few years.
While many blame the COVID-19 pandemic for the collapse in retail shopping, in reality this just expedited an already existing trend.
In fact, the CFIB predicts that over the next decade, 76% of Canada’s small business owners plan to exit their business.
They’re calling this the “succession tsunami”, and it’s poised to make major changes in the Canadian business landscape.
After all, that’s over $2 trillion in assets poised to change hands.
But here’s the challenge: 91% of them have no formal succession plan in place.
Without one, many of these businesses will simply close their doors.
Of course, that will disproportionately affect independent businesses.
If you do decide to close your business, there’s nothing wrong with that.
We work with many businesses to offer retail store closing liquidation events, and they can be a great success.
But often, retail store owners will close their stores without extracting the full value they’ve built over decades.
That’s a shame.
As former retail store owners and managers ourselves, we understand the hard work that goes into running a store.
After so many years behind the counter, you deserve to enjoy a comfortable next stage of your life, whatever that may be.
That’s why, in this article, we’re looking at how you can maximize the value you can extract from your retail store before you move on.
Whether you’re closing your store or selling your store, we’re here to help.
But selling your business might be more difficult than you think…
Can You Sell A Retail Store In 2025?
For many independent retailers, finding a buyer can be the single biggest obstacle to succession.
According to The Logic, 54% of business owners cite it as their top challenge.
We wrote an article about this last year, and the trends we talked about then haven’t changed.
The rate of entrepreneurship in Canada continues to stagnate, which means fewer people are willing to take on the risks associated with running a business.
As well, those who are interested may have difficulty raising the capital necessary to purchase an existing retail store.
And if they are able to do so, they may be more interested in starting their own retail business than they are taking over someone else’s.
In some cases, you may be able to sell your store to a long time employee as you work out a succession plan that eases you out of the business.
In others, you may be able to pass it on to your children, if they’re interested.
But otherwise, many retail businesses may face difficulty finding buyers.
Those who do attempt to sell their store on the open market frequently face frustrations.
Long timelines with deals falling apart late in the process.
Valuation disputes that leave owners disappointed.
Tax and financing hurdles that make sales unattractive to buyers.
All of the above can lead you to simply decide to close up shop abruptly, leaving inventory, fixtures, and equipment to be liquidated at a fraction of their value.
This is the “succession tsunami” the CFIB warns about, and it’s already hitting retail hard.
In our work with store owners across Canada, we’re seeing a sharp rise in retirement-driven closures, with many unable to sell or pass their store to family.
Why Choose A Managed Retirement Sale Consultant?
So, what to do if you’re unable to pass your store on?
In many cases, store owners are choosing to retire and close their stores.
But there’s a lot to worry about when it comes to closing a retail store.
RELATED ARTICLE: Considering Closing Your Store? Read This Checklist
As a result, it’s easy miss many of the details you’ll need to make your retirement sale a huge success.
This isn’t just another sale.
In many ways, it’s the biggest sale of your life.
You only get one shot at a store closing sale, and you’ve probably never run one before.
That’s why a professionally managed retirement store closing sale can be the most successful exit strategy.
At Silverman Consulting & Retail Services, we’ve spent more than 30 years helping jewellery and consumer goods retailers turn their final sale into their most successful sale ever.
Our clients often generate the equivalent of a full year’s sales in just 60–80 days.
At the same time, they also sell off fixtures, equipment, and even office and break room supplies.
This is a true liquidation of as many of your retail assets as possible.
Can You Run Your Own Retail Store Retirement Sale?
Yes, of course you can.
That’s never been in question.
The question is whether that’s the right choice for you.
For example, what happens if you run out of inventory before the sale ends?
You might think that’s the goal, but in fact that will cause you to leave money on the table.
A professional retail store closing sale manager can help you acquire more goods at deep discounts or possibly on consignment.
That way, not only can you liquidate what you have, you can sell even more.
You may also not know how to market a store closing sale.
That’s also a significant problem, since you only get one shot at it.
You’ve run successful sales in the past, but you’ve probably also run sales that fell short of your goals.
Is it worth gambling with your store closing sale?
Our process delivers a proven plan that works.
We’ll custom-build a marketing plan to attract the right buyers for your goods.
We’ll help you source additional inventory to maintain momentum and avoid lost sales.
And we’ll manage your event on-site, so you can focus on your customers and next chapter.
Many clients have exceeded their revenue goals by up to 60% with our methods.
Book Your Consultation With Silverman Consulting & Retail Services Today
CFIB data shows that the closer an owner is to their exit date, the more likely they are to start planning.
But even then, most plans are informal and incomplete.
Given the wave of retirements ahead, competition for both buyers and customers will only intensify.
If you own an independent retail store and expect to retire within the next one to three years, now is a great time to give us a call so we can help you prepare.
A well-planned, professionally managed retirement sale event can ensure you leave with both your finances and your reputation intact.
Don’t leave your life’s work to chance.
Book your consultation with Silverman Consulting & Retail Services today, and find out how to make your last sale your best sale.
Silverman Consulting & Retail Services229 Yonge St suite 400,
Toronto, ON M5B 1N9, Canada
1 (888) 955-1069