When facing the decision to close or sell your business, there are many factors to consider.
As a business owner you have put long hours, months and often years of time and effort into building a successful company.
But there are many reasons you may decide it’s time to walk away.
It could be due to health, changing economic situations, wanting to retire or do something new.
But the number one reason we hear is that it just isn’t fun anymore.
Having an exit strategy is not only advisable, but it is essential to ensuring the realization of what you have built, and for you to benefit from all those years of hard work.
But what is the best decision for you and for your business?
Silverman Consulting and Retail Services, and our team of store closing sales consultants is here to help.
Getting a business sale consultant involved can empower you to make the best choices for your business.
Don’t you deserve the maximum return and reward for all those years of hard work?
Questions To Ask The Professionals Before You Make Your Decision
Questions you may need answers to before you decide whether to sell or to close your business include:
- How much is your business worth?
- Is it possible to sell your store?
- What is the best plan to obtain the maximum return for your business?
- What planning and preparation do you need to do in order to maximize this return?
- How can a managed sale event maximise the returns?
- How and where can you sell your store fixtures and other assets, tangible and intangible?
- If unsurmountable debt is an issue, do you still have viable options?
Contact Silverman Consulting & Retail Services
You don’t have to struggle to find the answers to these questions yourself, call on professionals to help you make the best choices.
Silverman Consulting & Retail Services can help you with many of these things and help you connect with other professionals in the other areas to access the information you need to make informed decisions.
We will work with you to plan and execute your exit strategy so that you see the highest return on your investment of years of hard work.
Should I Sell Or Should I Close?
Selling your business could be the right choice for you, if that option is available.
However, each year fewer and fewer independent retail, brick and mortar stores are able to sell.
If you can sell it is often a good option, but again many buyers will have little interest in your inventory or will only pay a greatly reduced amount.
In this case you might need to have a sale to sell off your inventory.
Whether or not you have an exit plan in place, your business has value in it.
Now how will you expand that value and market it?
Customer and vendor relationships and contact information, inventory, processes and procedures – these all have value.
So whether large or small, selling your business should always be a consideration.
If time is of the essence, Silverman Consulting and Retail Services can help you determine the best options to ensure you get the greatest returns.
Keep an open mind once you list your business; you may find offers coming from non-traditional places.
However, it’s important to note that fewer young people are interested in buying and operating retail stores these days.
With the rise of online retail, many millennials are more interested in running an online store than a brick and mortar one.
And if they do want a physical retail store, they often have a very specific vision in mind for what their store will look like.
If after reviewing any offers and your options you choose to close your business, a store closing sale can often get you an even higher return than selling, and having a professionally managed sale event will maximise that potential.
This method can be a quick and effective way to obtain more return from your inventory than if you sold at a reduced price to one buyer.
But in order to conduct a themed sale event, whether it’s a store closing sale, a retirement sale, a store selling event, or something else, you need to be prepared, because you only get one shot at this type of event.
Call Silverman Consulting and Retail Services for expert advice on your best options, and then you can decide the direction to go.
Have You Prepared For An Exit?
As a business owner, you should have a plan in place should you become unable to work, or simply don’t want to work anymore.
Having an exit plan is an often overlooked but essential part of owning a business.
With a detailed plan in place for your business if something happens to you, for example, you will ease the stress on those that have to jump in and take control.
An exit plan can map out how and when the business will be transitioned, and will allow you to realize the best returns for your years of time and energy you invested in the business.
There are business brokers and specialized estate planners who can help you maximize your returns, and help you crunch the numbers.
Silverman Consulting and Retail Services will help you and your business to map out the best liquidation strategy, as a key part of your exit plan.
Protect your business, and your legacy.
Don’t wait to make the best plan for your business and your future.
Call Silverman Consulting & Retail Services and we will help you to make the right decisions.
Silverman Consulting & Retail Services229 Yonge St suite 400,
Toronto, ON M5B 1N9, Canada
1 (888) 955-1069