While going out of business may seem like an ending, it marks a new beginning for a business owner. After years of hard work and dedication, the shift away from a set daily routine is enough to throw anyone off. Combine that with the need to liquidate all of a company’s assets in a short amount of time, and it’s easy to see why business owners often turn to third parties for assistance when everything must go.
The reasons for going out of business vary — events such as retirement, a career change or bankruptcy put an end to business as usual. Before a business owner can transition to something new, they often must liquidate their company’s equipment, inventory, furniture, fixtures, work equipment and other items in order to turn these assets into cash. Selling everything is much different than traditional retailing, so read on to learn how to liquidate a business with experienced professionals that make the process painless.
Leave Inventory to a Trusted Partner
There’s a good chance that your business has more assets than you realize. Everything from outdoor signage to indoor floor mats has a price, and when you decide to work with a company like Auction Masters, we can help you make the most of this unrealized capital.
Identifying, categorizing and organizing large amounts of inventory is easier said than done, but our experts complete this type of work everyday. We take the necessary steps (such as photography, creating labels and organizing a catalog) that makes items easy to find for potential buyers. Your time is valuable, and an online auction allows you to focus on other responsibilities when going out of business.
Find an Existing Customer Base
One of the biggest challenges for companies that must liquidate their assets is finding relevant buyers. The reality is, finding people who are willing to purchase 100% of a company’s inventory is next to impossible. Most people who are starting a new business or expanding an existing one would rather pick and choose the items that will bring their business to the next level, and an online auction gives them the means to do just that.
For a seller, the nice thing about an online auction is that it attracts a large number of business owners with specific needs. Together, these buyers create a demand for nearly all of the seller’s inventory. Our auction experts use the weeks leading up to an auction to raise awareness of the event through strategic marketing tactics that target the most relevant potential customers. What’s more, our existing user base covers a wide range of industries, and they know that our website provides the ideal buying platform that’s worth checking out regularly.
Sell Quickly and Efficiently for More Money
When it’s time to liquidate, there usually isn’t an unlimited amount of time to make it happen. In fact, sellers often come to Auction Masters with strict timing requirements to sell everything. Fortunately, going out of business auctions are ideal for time-sensitive sales since they are one-time events that occur over just a few days. While the planning and marketing of an auction can take some time, it is still much less than it would take to sell each item individually over weeks or months.
By their very nature, auctions are an efficient way to sell. Not only do they help business owners sell everything quickly, they also help sellers maximize their revenue in the process. Auctions have a set time limit, and buyers are aware that not putting in a bid could mean missing out on something they need right now. Add some friendly competition to the mix, in the form of bidding wars, and sellers stand to benefit from this unique selling format.
Still wondering how to liquidate a company without the usual hassles? Our team is available to answer any questions you have about the process. Our goal is to make your transition as seamless as possible. The inventory you relied on for years will not go to waste when you choose Auction Masters — we will work with you to help you get the most money possible for your tied up assets.
Begin the process by reaching out to our friendly staff. Learn how to move forward, and how to set up your auction as quickly as possible. Find the selling solution you’ve been looking!