Turnaround Your Business

Our recommended business turnaround approach. Step-by-step.

If your business is in trouble and the only way out is to go out of business or to sell inventory, a business liquidators company might make all the difference.

Business liquidators will come in and sell your inventory for you, helping you to perhaps pay some bills, and come out cleaner than if you simply walked away. Few companies have going out of business sales themselves or go out of business without using the services of a business liquidation company. Some retailers have “liquidation” sales and sell most of their inventory while continuing to stay in business. There are several choices here for troubled business owners.

Business Liquidators Can Turn a Bad Situation Around

If you are thinking you must get out of your business before it gets the best of you, you have several options. Some businesses file bankruptcy, while others try to sell the business. It’s more painful but easier to file bankruptcy, since finding buyers for troubled companies can be difficult, especially if your business is small.

Assuming there is no viable buyer, what do you do? You can hire a business liquidators company to help you out. You may choose to file bankruptcy and then have the business liquidators sell your inventory to pay remaining debts. On the other hand, you may want to have a “liquidation” sale to raise money. In either case, the business liquidators can run the sale in a way you might never have thought of.

There are a myriad of business liquidators to choose from. It works something like this (with variations depending on the business liquidators company you are working with). You contact the business liquidators (there are a myriad of choices on the internet) and tell them what your needs and goals are. Many companies require a minimum amount of inventory, so you must answer questions about the size of your inventory.

Once you sign a contract with the business liquidators, they will set a date and time for the start of the sale. Depending on your needs, the sale might be a one-day bonanza, or could continue for several weeks. Most of the business liquidators companies will charge a small percentage as their fee (for example, 10% of the gross profits will be paid to the business liquidators).

Most business liquidators will not only run the sale for you but provide signs, recommended price points, some staffing, and necessary bookkeeping. Most will provide outdoor advertising as part of their service, but ask that you plan and pay for newspaper and other ads.

Three important factors to consider before your turnaround your business..