10 May 2009
Is Opportunity Knocking on Your Door?
May/12/2009 12:20 Filed in: Marketing
for the Small Retailer
The
Opportunity May Never Be Better
A “good” financial crisis creates opportunities for some.
Independent retailers thrive on risk-taking. They take risks every day. Buying merchandise; running promotions; hiring new people; etc, etc. These all are risks. It's every day life for retailers.
So what’s one more? Right now the retail world is full of stores anxious to be sold. For any of a thousand reasons, many owners of small retail operations either financially must sell or they have reached the "I give up" stage. This is unfortunate but very true
It’s a great time to seize an opportunity! Get the word out that you are looking to buy businesses that fit your business model. And you should be, but there is one caveat – it must be owner financing. Don't use much, if any, of your own cash. Yes, those deals are out there. So insist on them.
You and the right lawyer might be able to grow your business – fast! – right now. Lots of low-hanging, distressed fruit available. (And frankly, those retailers who have reached the "I give up" stage will be glad to realize some value from their business, instead of just winding it down. And the seller financing could give them an income stream over time as well. It can be a win-win situation for all parties...including employees and customers.)
Is now the right time for your “opportunity”.
A “good” financial crisis creates opportunities for some.
Independent retailers thrive on risk-taking. They take risks every day. Buying merchandise; running promotions; hiring new people; etc, etc. These all are risks. It's every day life for retailers.
So what’s one more? Right now the retail world is full of stores anxious to be sold. For any of a thousand reasons, many owners of small retail operations either financially must sell or they have reached the "I give up" stage. This is unfortunate but very true
It’s a great time to seize an opportunity! Get the word out that you are looking to buy businesses that fit your business model. And you should be, but there is one caveat – it must be owner financing. Don't use much, if any, of your own cash. Yes, those deals are out there. So insist on them.
You and the right lawyer might be able to grow your business – fast! – right now. Lots of low-hanging, distressed fruit available. (And frankly, those retailers who have reached the "I give up" stage will be glad to realize some value from their business, instead of just winding it down. And the seller financing could give them an income stream over time as well. It can be a win-win situation for all parties...including employees and customers.)
Is now the right time for your “opportunity”.