It’s
so important to have an exit strategy for your business so that when you retire
or want to do other things, you have a plan.
Don’t just close it down or hire a manager, consider selling or adding a
partner.
So many retailers open a business because they
love what they do or sell, or love helping customers, but what do we do when it
comes time to move on?
When beginning your business, it’s a good idea to put
an exit strategy in place. What would
you like to do? How would you like to go
about it? Many people sell off their
merchandise and close their doors or hire a manager to run the business for
them.
Both of plans have definite drawbacks, so why not consider
alternatives?
You could sell your entire business to someone
else or you
could sell off a portion of your business to someone who is willing to be a partner
and share in the duties and responsibilities.
Consider hiring a business broker to help you
through the process. While using a
realtor or going through a private sale can be tempting, a business broker can
help take you through every step of the process with experience and
expertise.
Not sure how to choose the right broker? Ask for referrals and references from people
you trust. If you’re in the Edmonton
area and looking for someone, ask me for a recommendation.
Happy selling!
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