When a business owner decides to retire, a business shutdown is needed. Once all operations have stopped, a retail store owner must dispose of the final inventory and any fixtures stored in the building. Instead of taking on the task themselves, the owner can hire a service provider to help with these requirements.
Review Liquidation Services
When shutting down a retail business, the owner may have excess inventory and fixtures throughout the property. A liquidation service can help the owner sell these items and get as much out of the investment as possible. Many liquidators manage different aspects of these sales, and some service providers manage the store fixtures. When reviewing ways to sell the fixtures, the owner can contact store fixture liquidators and discuss these opportunities and the total costs.
Create a List of All Fixtures and Their Current Condition
A preliminary task for tracking all assets owned by the company is to create a list of all fixtures and their current value. While store owners may not know the exact selling price for the fixtures now, the individuals know the initial costs of the items.
To get a great start on these sales, the owner can list the price the company paid for the items off to the side of each fixture listed on the document. While there aren’t any guarantees that the owner will get the highest value for all fixtures, at least the owner may determine which items generated profits and which ones didn’t. The current condition of the items determines how much the owner can get from each item.
An Auction or Direct Sales?
There are two primary strategies for selling store fixtures to the public. The liquidator will either place all items in a warehouse where potential buyers can visit and review the products in person, or the items are placed in an auction where the highest bidder gets the items. Both options may generate incredible proceeds and give the owner a better return on their investment.
How Much Involvement Do You Want?
When setting up the contract to sell the store fixtures, the liquidation service needs to know how involved the owner wants to be in the sale of these items. Most business owners want to stay too involved and micromanage the sales process. However, the liquidation services are designed to take the weight of the process off the shoulders of the store owner and let the owner relax.
How to Get the Proceeds from the Sales
Once all sales are final, the liquidator presents the proceeds to the customer. The service provider can send the money via a direct deposit to the business owner’s bank account or give the person a check in person. The store owner can get proceeds after each individual sale if the owner has auctions that are still active.
Liquidation services are a must for anyone who wants to shut down their business and get more out of the final inventory and fixtures that are still on the property. The service providers can set up auctions and direct sales to get rid of all these items and give the owner all the proceeds. By reviewing the advantages of the services, retired business owners find an effective way to sell unwanted items and get the most out of their investments.