The Best Way To Exit A Retail Business
There are several types of Store Closing Sales that retailers use to exit their retail business. Retail stores close for a variety of reasons including owner retirement, relocation, health issues, changing market trends, and other factors.
The different types of Store Closing Sale are:
• Going Out Of Business Sale
• Moving Sale
• Store Consolidation Sale
* Retirement Sale
A Store Closing Sale is the best way for most independent retailers to exit their business.
Having a store closing sale can help you achieve the following objectives:
• Close a store quickly and efficiently.
• Obtain the highest cash return.
• Sell inventory, fixtures and equipment.
• Collect accounts receivable.
• Eliminate the risk of financing a business sale.
• Maintain good relations with customers, employees, suppliers,
landlords, government agencies, bankers and the local community.
• Maintain a positive business image.
When retailers decide to close their store they often turn to a retail store closing consultant to assist in this liquidation process.
Most of these consultants have programs that are expensive and require the consultant to be on site at the retailer’s location throughout the sale. With the
introduction of the new technology of smart phones, digital photography
and videos, video teleconferencing and ease of communication this
expensive approach is no longer needed.
A retailer with a good store closing sale plan developed by an experienced store closing sale consultant can conduct his or her own DIY Store Closing Sale very effectively and eliminate the high expense of an on-site consultant. There are some times when an on-site consultant is needed, as negotiated beforehand. That’s our Pro Plan.
CCH Consulting has developed the DIY and DIYPlus approaches to allow retailers to
maximize their results and minimize their expense.