There are many reasons to exit a business…
Trouble with vendors
… but only four ways to exit a business
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 they are willing to pay 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 a family member 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?
No retailer wants to go this route. If you think your business is 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. You can 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.
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.”