If you’ve made the decision to close your company’s doors, you will need to liquidate your assets either to pay creditors or to put money in your pocket. There are a few different reasons why a business owner may decide to shut down their company, but the process for each scenario is relatively the same and starts with liquidating your assets. In today’s post, we will discuss the steps you need to take as you begin the process of liquidating your business.
Whether you’re dealing with estate or business liquidation, it’s always a good idea to seek advice from a professional — that’s where Grasons Co. Estate Sale Services can help! We offer professional business liquidation services to help make the process easier and more efficient. Our experts have years of experience, and our promise is to be there for whatever you need, whether that’s through every step of the process or just a few select steps. Want to learn more? Reach out to a Grasons representative near you today!
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Identify Assets to Liquidate
Before you begin selling your assets for a profit, you first need to identify and organize what assets you can actually sell. Business liquidation is not like a garage sale — you can’t just sell off whatever you want. In a business liquidation, you are able to sell physical property that you own, as well a monetary property such as security deposits, prepaid insurance premiums, and more. Other items you can sell include:
- Business equipment such as phones, cash registers, computers, etc.
- Vehicles
- Real estate
- Office furniture
- Art
- Supplies
After inventorying your assets, you will need to assess their value and determine what kind of sale will work best for your situation. Luckily, at Grasons, we can help with all of that. Our team of professionals can help you determine the value of your assets, decide what type of sale is best, and manage that sale from start to finish. Give us a call to learn more and get started.
Reach Out to Potential Buyers
When it comes to reaching out to potential buyers, you have a couple different options. You can liquidate all of your assets and reach out to buyers who may be interested in purchasing the real estate, or you can reach out to buyers at the beginning who may be willing to buy your company as-is. The latter option is best if you would like to keep your business running. However, if you’re determined to close the doors and start fresh, the former option is most likely your best bet.
If your business owns trademarks, copyrights, and patents, you may want to consider reaching out to competitors who are in the same field. Another option is to reach out to your industry contacts to see if they are interested in buying some of your assets. All that being said, if you’re having trouble getting started, the team at Grasons can help. Because we are a well-known brand nation-wide, we have an extensive network. When you work with us, we can help you gain access to our network, allowing you to sell your assets for a fair price as quickly as possible.
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Seek Professional Advice From Grasons Today!
Liquidating your business can be a difficult and emotional time. At Grasons Co. Estate Sale Services, we understand that while liquidating your business may be necessary to help pay back your creditors, it doesn’t make the process any easier, which is why we work hard to be there for you every step of the way. In addition to helping you manage the sale of your assets, we can also help you with inventory, assessing the value of items, and so much more. Explore our website to learn more about the services we provide and contact your local Grasons representative today.
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