When it’s time to consider a Store Closing or Going Out of Business Sale

Oct/16/2009 09:56 Filed in: Store Closing Sale
The year 2009 is quickly coming to a close. For most retailers and in particular the small independent retailer, this year has been extremely tough. Many are counting on the last two months to save their business. My suggestion to those retailers is to take a little time and evaluate if your business is still viable or if you are just not willing to admit it’s time to look for new opportunities.

Ask yourself the seven questions below:

• Am I adequately paying myself?

• Am I putting personal money into the business to meet daily expenses?

• Am I considering a home equity loan or using credit cards to pay bills?

• Have I significantly reduced advertising to save money?

• Is the business causing family stress or affecting my health?

• Has my market area deteriorated significantly?

• Am I burnt-out on retail?

If you answered “yes” to any of them, it might be time to consider a Store Closing or Going Out of Business Sale and this holiday season may be the best time to do it.