Financial Freedom Tips

Posts Tagged ‘Liquidating’

We Purchase Your Business

In today’s dynamic business environment you’re either Growing or Going…out of business that is! If you’re part of the latter contingent and have prefabricated the decision to get out of a business but are unable to transition your business internally or sell it as an intact entity, full or partial liquidation of assets might be an appropriate exit strategy. Asset liquidation can wage swift cash and assist in diversifying equity. However, before you terminate your lease, sell a key piece of equipment, or disconnect your utilities, make sure you have a well-thought-out plan.

Getting out of business successfully requires careful planning from begin to finish. If you are looking at quality liquidation as a part of your exit strategy, think about incorporating the following suggestions into your plan to increase your chances for success.

1. Speak to your lawyer and accountant.

2. Establish the liquidation value of your assets; remember liquidation vs. retail value can differ substantially.

3. Identify the ideal venue and timetable to sell your assets.

4. Arrange the understanding at the most appropriate location with an expert.

5. Use a non-recourse bill of sale.

Understanding and incorporating these steps into your exit plan will not only help you recover as much money as possible, they might also help you achieve the freedom needed to oppose new endeavors.

It is important to note that the suggestions discussed above are intended to serve as a general overview to assist with the quality liquidation process. It is not a alternative for case-specific advice that only your lawyer and/or accountant can provide. Also, depending on the situation and necessity of business divesture, the cooperation of creditors might need to be considered. Cover your bases and speak to the experts before liquidating any assets that might be in question.

Initiate the process by preparing a current inventory of your business assets. Include photographs, serial numbers and a brief description of the condition of apiece item if possible. A thorough inventory will save considerable time and expense as you navigate the understanding process and can be invaluable if you are asked to wage documentation for creditors or the Internal Revenue Service.

Next, begin preparing your assets for sale. To elicit the ideal offers, take care that you do not diminish the appeal of your most marketable items by lumping them in with outdated or worn-out equipment, furniture or inventory. In most cases the most lucrative value of these lesser items might be in the form of a tax deduction, so why not donate them to an appropriate charity?

Finally, don’t overlook your intangible assets. For example, is your lease assignable? Are the business licenses, permits, patents or trademarks that you hold in demand? Can they be transferred? Is there a market for your customer list, contract rights or accounts? You might need to check with your attorney or accountant to determine what information and agreements are transferable but once cleared these types of assets can also wage a substantial return.

We Purchase Your Business (WBYB) provides cash offers for all assets in order to assist in the liquidation process. Please contact your WBYB representative for more information at www. WeBuyYourBusiness. com