When you start a new business, you’re probably thinking about all of the good things. Unfortunately, for many business owners, those good things eventually come to an end.
The sad fact is that only four out of 100 businesses last for 10 years. For the other 96, they will need to hold a business liquidation sale.
Business liquidation is when a company is forced to sell off their property, assets, and inventory so they can pay off all of their bills. And while it sounds like something that shouldn’t be too hard, hiring a professional will go a long way to making everything more manageable.
What follows are just a few reasons why hiring a liquidation professional can make a stressful time a little more bearable.
You Get Experienced Help
Business owners should know that experience is one of the most valuable characteristics anyone can have. When you have someone with experience, you can rely on their knowledge to see you through uncertain times.
And what qualifies as a more uncertain time than selling off your business assets?
The fact of the matter is there are so many things that you need to keep tabs on when you’re liquidating that it can be very intimidating to do on your own.
Think about it. You have decor, office furniture, machines, and tons of other things that you want to make money on, so having an experienced partner can make the entire process easier.
Professionals Find Buyers
If you want to make the most of your business liquidation, then you need people who are willing to pay. This can be difficult to do on your own.
Professionals, however, know where to find buyers. They have established connections that can help you mine for people willing to take away your assets and your inventory, giving you the cash boost you may need.
They’ll Figure Out the Best Sale
Before you start liquidation, you need to decide which type of sale you’re going to do.
Are you going to sell on the internet only? Maybe you want to host a retail sale, i.e., a “going out of business sale.” Or using a dealer for a consignment-style sale would be best.
Each type of sale has its pros and cons, and hiring a professional will help you figure it out.
Professionals Have Timing
Just like with anything in life, timing is everything. If you hold your business liquidation at the wrong time, you stand to lose the chance of making the money you need.
This doesn’t only mean the time of day. The day of the week, the month, and even the seasons can have a profound impact on your sale. Professionals can tell you the best time for getting top dollar.
They’ll Set Business Liquidation Value
Professionals will help you will determine how much you stand to make and help you price items accordingly.
This will not only take some of the pressure off you, but it will also prevent you from making pricing mistakes and earning less than you could.
The Bottom Line
If you’re looking at liquidating your business assets, don’t try to do it alone. Look for professionals who can guide you and help you get the most from your sale. Get more information about our services today!
Prestige Estate Services
2201 Kipling Street, Suite 101
Lakewood, CO 80215