Sometimes selling a business is not as simple as it may sound. People like to think that if things do not work out the way they hope in their small business that they would always have the option to sell it. However, when that is not really an option, a South Florida business liquidation sale may be a more effective strategy.
Bizfillings.com says that liquidation is a common way to get out of a business. Though some may think of bankruptcy as a way out, this website says,
Moreover, your business is at least solvent or near-solvent, so bankruptcy is not an option. And even if you were near or at insolvency, you’d probably find it preferable to liquidate your assets and negotiate amounts owed to your creditors, while at the same time avoiding the stigma of bankruptcy.
Thus, liquidation is a preferred option over bankruptcy for many. There are different types of liquidation sales that may be considered though. Not all of them are created equal, and some are a good deal more productive than others depending on the type of business in question.
South Florida Business Liquidation
There are a few strategies that are essential to the successful liquidation sale. For one thing, this sale needs to be occurring at the right time of the year. Having one right after most people file their taxes is not the best idea, but having one around the time that people are receiving their tax refund checks can be a good idea. January is a bad month for them since it is cold and money has already been spent on the holidays, but before the holidays can be a good time.
It is important to limit the amount of time that the sale goes on for. This is because overhead costs can get expensive if the sale drags on for too long. It is important to display a sense of urgency to get more products out the door.
Liquidation can be a good strategy to get product out the door and get oneself out of a business, but it must be carefully approached. When conducted the right way, a smooth transition out of the business is possible.
Contact us for more details on how a business liquidation may be the right move to make.
