shuting down a business

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Rewire

Rewire

Senior Member
Location
Lake of the Ozarks
After much consideration i have made the decision to close the doors I have about three or four days of work to wrap up then it done.I have alot of small parts , tools and equipment but not enough to hire an auction can anybody give me ideas on ways to unload inventory.
 
cowboyjwc

cowboyjwc

Moderator
Staff member
Location
Simi Valley, CA
That's sad to hear.

You could just have a "garage sale" or maybe advertise in the paper or local wholesale house. I'm sure there is someone who would buy you out.
 
dmagyar

dmagyar

Senior Member
Location
Rocklin, Ca.
Sorry to hear that

Sorry to hear that

Dear Rewire you've got a lot of company. I've been out beating the bushes for work for months and it's not there. My wife is already half-joking that I'm semi-retired and we've begun talking about what's our next move.
 
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hillbilly1

Senior Member
Location
North Georgia mountains
Occupation
Owner/electrical contractor
Hate to hear that, but it looks like things are not going to change any time soon, even if we do get a regime change. It's going to take a lot to undo the damage. I bought a small contractor out years ago, A builder friend of mine told me about him closing up. I loaded a 12' bed ton truck up 3' tall with material,tools and shelving. You could see if any of your old customers know of anybody that might want it, perhaps even list it on Craigs list, but be careful with who you deal with on there.
 
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satcom

Senior Member
cowboyjwc said:
That's sad to hear.

You could just have a "garage sale" or maybe advertise in the paper or local wholesale house. I'm sure there is someone who would buy you out.
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We have guys going out every week, they can't make enough to keep the light on and even make min wages, and they can't even get 10 cents on the dollar, for inventory or equipment, it may be better to exhaust as much as you can and then just move on, my idea would be for all of the contractors going belly up take all their junk, but it in one big dump truck and dump it on the banks front steps, so everyone can see the damage they did.
 
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rt66electric

Senior Member
Location
Oklahoma
electrical does not sell at garage sales

electrical does not sell at garage sales

I have tried putting out stuuf w/ my wife's garage sale.. Everytime (maybe sold a few flourescent fixtures) I pu it back in the garage.

I generally buy from Ebay. auctions, craigslist, etc,

I would list on craigs list, or ebay, for $100 a pallet and for "local-pickup" only
 
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curt swartz

Electrical Contractor - San Jose, CA
Location
San Jose, CA
Occupation
Electrical Contractor
zbang said:
If you can't sell it to another contractor, many areas have recycling centers that try to make the stuff useful. The San Francisco area has Urban Ore and Building Resources (http://www.buildingresources.org/index.html), the latter is a non-profit, so you can take a tax write-off.
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If the items are simply left over from previous projects and not in inventory you can't write them off if donated. They were written off when purchased and you can't write them off twice.
 
cowboyjwc

cowboyjwc

Moderator
Staff member
Location
Simi Valley, CA
Sorry forgot one. Habitat for Humanity is always looking for stuff, you may not be able to write it off as noted, but at least it's going to a good cause. If not them, I'm sure that you have the same sort of originization where you are.
 
resistance

resistance

Senior Member
Location
WA
This makes me highly upset!!! Our much hard work to get our licensing and businesses going--all but to close shop!!! You have no idea how I feel about this!!! No idea!!! :mad:

Strangely enough, they are building houses like crazy a few blocks from my house. What's really going on!?

Some of us don't deserve this!!! :mad:
 
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Alwayslearningelec

Senior Member
Location
NJ
Occupation
Estimator
Rewire said:
After much consideration i have made the decision to close the doors I have about three or four days of work to wrap up then it done.I have alot of small parts , tools and equipment but not enough to hire an auction can anybody give me ideas on ways to unload inventory.
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Rewire I am really sorry to hear that. Thanks for all the advice and don't worry things will work out for you.
 
S

stevenje

Senior Member
Location
Yachats Oregon
Rewire said:
After much consideration i have made the decision to close the doors I have about three or four days of work to wrap up then it done.I have alot of small parts , tools and equipment but not enough to hire an auction can anybody give me ideas on ways to unload inventory.
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Rewire, always remember that when one door closes, another will open. I firmly believe that.

The shop that I currently work for is on the verge of closing its doors. The few of us that are left haven't seen a 40 hour week in months. Some weeks there is no work. No one is hiring. Everybody is hurting. You are not alone. This is as bad as I have ever seen in my 36 years in this industry.

My gut feeling is this will only get worse, until there is a major shift on many fronts in this country of ours. That discussion is for another thread on another forum.
 
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GUNNING

GUNNING

Senior Member
Location
Gainesville, Florida
supply and demand curve

supply and demand curve

I almost made that same decision three months ago. Then things started to pick up for the summer. I did two things, increased advertising, and reduced hourly rates. It gave me more exposure, and increased demand for my services. Im not sure how much longer I can pay people to hire me but if the government can do it so can I.
Seriously increase advertising and reduce rates, these worked for me.
As far as liquidating, ebay craigs list and garage sale. Ask around locally and post a note at the supply house. Don't have to tell them your closing your doors just downsizing. Or rent a storage unit and post a note in the local paper. Nobody needs to know its even you. Keep it low key from the supply houses till you have too, they might get a bit hinky. Cherry pick the good stuff and sell them off first. Make a plan. Good luck.
 
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