Since time isn't on your side in a fast exit scenario, you may need to consider other strategies to successfully transition out of your business.1. As an established business owner, you may already know several individuals or companies that are likely interested in acquiring your business for either financial or strategic reasons.
The Time to Sell is Declining (Though Not Fast Enough)Biz Buy data shows that the median time to sell a business dropped 23 percent from its peak of 200 days in Q2 2012 to just 153 days in Q4 2014--the lowest sale time since Biz Buy Sell began tracking this data in 2007.It happens to every retail business owner: You buy too much stock of a certain type of merchandise, and then a newer, better model comes out. Have some extra Christmas decorations lingering around after New Year’s?Or, maybe it’s just not selling as fast as you’d like, and you’re running out of shelf space for new products. Unless you want to sit on the product until next year, cut the prices to entice bargain-hunters.Although outreach to potential buyers can reduce the sale time, it also creates risks--especially if it lets competitors gain inside knowledge about your sale.There are many reasons why you may decide to liquidate your stocks, such as falling market price, financial problems or to take advantage of profits from the sale of your stocks.