So, the time has come to sell off your interests in your business. Perhaps you’re ready to move on or you’re looking to retire? Or, maybe you’re wrapping up a business that belonged to a deceased relative. Whatever the motivation, there are a few things you need to remember to carry out a successful commercial liquidation. You want to settle everything as quickly and as profitably as possible. Keep the following tips in mind as you get started:
Work Out the Full Value of Your Inventory
Start by taking a complete inventory of all the business’s belongings, be it stock or equipment. Try to value everything as accurately as possible and come up with an estimate of the total amount you realistically expect to make. It’s always good to have this goal in mind as you go about the liquidation.
Do Clean-Ups and Repairs to Increase Resale Values
Take a good look at what you have to sell. Determine what can and should be sold as is, and which items could use cleaning up or repair in order to have a better resale value. Obviously, these repairs will come at a cost. So, first determine whether it will be worth it. Choose to opt for repairs only if they will have a significant effect on the resale price.
Decide What to Sell and What to Donate
With some of your items, it might actually be more profitable to donate them and claim the tax benefits. Study your inventory together with a good tax attorney and liquidation company representative, and decide what to send to resale and what to donate.
Partner with a Trusted Liquidation Company
Commercial liquidation can be complicated and can be a longer process than you initially expect. Rather than trying to take care of it on your own, get a good, professional liquidator involved. Jerry’s Antiques and Estate Sales can help. We will take care of the marketing and selling and make sure that you get as much out of the sales as you should.