Small Business Blog

Posts Tagged ‘Going’

No matter how unfortunate it may sound, going out of business sales are becoming more common than we may wish it to be. These sales are the product of a sluggish economy that was brought about by the financial crisis in the United States and which, in turn, resulted in a recession that is felt all across the globe. Many retailers could not cope with the recession and have chosen to close their doors and go out of business.

Retailers of printer supplies and equipment are just some of the many businesses that have been affected by the economic downturn. It is only logical for these retailers to hold going out of business sales because it is a sound way of liquidating their inventory and recovering some money against their losses.

Should you buy your office supplies and equipment from a retailer that is holding a going out of business sale? Below are the pros and cons of buying office supplies from a going out of business sale.

The Advantages of Buying from Going Out of Business Sales

The main advantage that you can enjoy from buying office goods, computers, equipment, printer ink cartridges and other items from a going out of business sale is that you are bound to find a good deal. While a going out of business sale may conjure images of broken-down items just waiting to be plucked at a discount by a buyer who is not too fussy about the things he is buying, you can actually find treasures at such sales. You can find brand-new items in pristine condition at these sales.

Most importantly, you can get these treasures at very, very low prices. It is common in going out of business sales for the retailers to pull the prices of their products down to discounts as much as 80%. The goal of retailers is to dispose as many of their stock as possible and to recover as much money as they can from their inventory.

The Disadvantage of Buying from Going Out of Business Sales

There are always two sides to a coin. If there are advantages to going out of business sales, there are also a few disadvantages. For one, in going out of business sales, you are not likely to have money-back guarantees for your purchases. It would be strange to expect this since you are not going to see the store open a week or two after the sale. This makes buying computers and big office equipment at a going out of business sale rather risky.

Another disadvantage to buying your office supplies and equipment from a going out of business sale is that you cannot get a warranty for your purchases anymore. So, in case the product that you bought turns out to be defective, you cannot return the item to the store anymore simply because the store would not be there anymore after the sale.

It is up to you to buy your office equipment and supplies from a going out of business sale. There are great benefits from making purchases from such a sale, but there are also some risks. Whether or not you want to overlook the risk and take advantage of the benefits is your choice.

No matter how unfortunate it may sound, going out of business sales are becoming more common than we may wish it to be. These sales are the product of a sluggish economy that was brought about by the financial crisis in the United States and which, in turn, resulted in a recession that is felt all across the globe. Many retailers could not cope with the recession and have chosen to close their doors and go out of business.

Retailers of printer supplies and equipment are just some of the many businesses that have been affected by the economic downturn. It is only logical for these retailers to hold going out of business sales because it is a sound way of liquidating their inventory and recovering some money against their losses.

Should you buy your office supplies and equipment from a retailer that is holding a going out of business sale? Below are the pros and cons of buying office supplies from a going out of business sale.

The Advantages of Buying from Going Out of Business Sales

The main advantage that you can enjoy from buying office goods, computers, equipment, printer ink cartridges and other items from a going out of business sale is that you are bound to find a good deal. While a going out of business sale may conjure images of broken-down items just waiting to be plucked at a discount by a buyer who is not too fussy about the things he is buying, you can actually find treasures at such sales. You can find brand-new items in pristine condition at these sales.

Most importantly, you can get these treasures at very, very low prices. It is common in going out of business sales for the retailers to pull the prices of their products down to discounts as much as 80%. The goal of retailers is to dispose as many of their stock as possible and to recover as much money as they can from their inventory.

The Disadvantage of Buying from Going Out of Business Sales

There are always two sides to a coin. If there are advantages to going out of business sales, there are also a few disadvantages. For one, in going out of business sales, you are not likely to have money-back guarantees for your purchases. It would be strange to expect this since you are not going to see the store open a week or two after the sale. This makes buying computers and big office equipment at a going out of business sale rather risky.

Another disadvantage to buying your office supplies and equipment from a going out of business sale is that you cannot get a warranty for your purchases anymore. So, in case the product that you bought turns out to be defective, you cannot return the item to the store anymore simply because the store would not be there anymore after the sale.

It is up to you to buy your office equipment and supplies from a going out of business sale. There are great benefits from making purchases from such a sale, but there are also some risks. Whether or not you want to overlook the risk and take advantage of the benefits is your choice.

1. Living Funds – Unless you are one of the very lucky few, your business will not be profitable from the word go. Remember, it took even mighty Google a couple years to even find funding to make a serious effort at becoming an Internet giant. How much money do you have set aside for living expenses? Six months to a year is a good range if you will be working full time on your new business.

2. Time – Running your own business can be incredibly rewarding. That being said, it is going to take a lot of your time. Do you have a family? Kids? Other time obligations? You can expect to spend 10 to 12 hours a day during the first year getting up and running, so make sure you have the wiggle room to handle it.

3. Business Form – When starting out, you need to determine what form your business will take. Will it be a corporation, limited liability company or just a sole proprietor. The decision is primarily one of risk. The bigger the chance of getting sued, the more you should consider undertaking the expense of a corporation or limited liability company.

4. Taxes – Uncle Sam wants and gets his money. Every business plan needs to account for tax issues. You might live in a state that has a favorable tax climate for business, but then again you may not. Some of the best money you can spend when starting out is to find a good accountant. They can save you a bundle. The best accountant is a proactive one. By proactive, I mean they work with you to put together plans on how to save on your taxes at the beginning of each year. Find one and spend the time to get it right.

5. Passion vs Profit – People are often looking for the “best” business idea. This is a mistake. The best business idea is the one you are very interested in. If you love fishing, start a business that has something to do with fishing. You should generally avoid starting a business because you think you can make a lot of money. It is going to take a ton of work, so go with something you are passionate about so you can get through the tough times.

If you take these factors into account, you will be well ahead of many people that start their own businesses. Find something you are passionate about, be prepared and your chances of success will be much better.