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You may be thinking, “Someday I’ll sell my business.” The question is: Are you getting it ready now so that process is easier down the road? 

In SimpleConsign’s recent webinar, resale-industry veteran Vena Holden (former owner of Selective Seconds) and business broker & advocate Teresa Harwood laid out how to think about your exit on your own terms, and what it takes to make your business attractive when the time comes. 

Whether you’re planning to sell next year, or just want to build an exit-plan for the future, here’s a breakdown of the major takeaways — and what you can be doing today.

 


1. Set Yourself Up for a Future Sale — On Your Terms

Don’t wait until someone knocks at your door. Begin planning ahead. In the webinar, Vena and Teresa emphasize that whether you're actively selling or just thinking about it, you’ll benefit from starting the process now.

Key questions to ask yourself:

  1. What is your timeline? Are you selling in 1 year, 5 years, or when it’s right for you?
  2. What kind of transition do you want? Do you stay on for some time, walk away completely, or pass it to a family member?
  3. What conditions make the business most appealing to a buyer (or succession plan)?

By having clarity on these things, you make smarter choices now rather than scrambling later.

2. What Buyers Are Looking For (and What Scares Them Off)

Knowing what makes a buyer pause or walk away will help position your business for an easy sell. 

Some red flags for buyers include: 

  • Owner-dependence: If only the owner knows how to run things, the buyer is nervous.
  • Poor documentation: missing records, inconsistent bookkeeping, unsure inventory.
  • Untidy or outdated store: If the physical environment feels neglected, that’s a sign of deeper issues.
  • Weak growth or declining metrics: Buyers want a business that shows momentum or stable value.

On the flip side, features that attract buyers:

  • Consistent, clean financial performance
  • Documented processes, staff who can run things
  • Good records of consignors, inventory flows, vendor relationships
  • A turn-key opportunity: minimal “fixing” needed from buyer’s side
     

3. Why Clean Financials and Tidy Records Matter

It may sound obvious, but it’s often where things fall apart. In the webinar, clean books are listed among the top-level items to address. Buyers will ask for at least three years of financial statements, tax returns, profit/loss, cash flow, etc.

What you can do:

  • Ensure your bookkeeping is up to date, consistent, easy to follow.
  • Organize important documents: contracts, leases, vendor/supplier agreements, inventories, employee manuals.
  • Develop meaningful KPIs or performance metrics — things a buyer can look at and understand.
  • Clean up your store (physical & digital): inventory, display, records, systems.

By doing this ahead of time rather than during the sale process, you reduce delays, questions, and negotiation risks.

4. How to Get Your Space Ready to Show to Serious Buyers

Your store is your “front door” into the deal. In many ways, first impressions matter. As one small-business guide puts it: “Stand back and take an objective look at your business location as you approach from the street.”

Practical tips:

  • Spruce up exterior: landscaping, signage, parking lot, façade.
  • lean and organize interior: inventory displayed neatly, no clutter, lighting good, staff trained. Check out our blog, 7 Tips to Elevate Your Resale Store with Visual Merchandising, for more tips on displaying inventory with intention.
  • Display systems and processes: show the business is operational, not chaotic.
  • Consider staging: make it easy for a buyer to envision stepping in and running the business.

5. What the Selling Process Looks Like — and How Long It Takes

Though every business sale is unique, the webinar covers what to expect in terms of a ‘timeline’:

  • A window of time: even if you’re just “planning ahead”, the process from “we decide to sell” to “deal done” can easily be many months.
  • Buyer diligence: once interest is there, the buyer will dig into your books, records, operations.
  • Transition period: often the seller will stay on for a time to assist the buyer (especially if you’re operator-owner).
  • On your terms: by preparing ahead, you can set conditions (when you leave, how you support transition, etc.).

Don’t expect a “we list today, sell tomorrow” scenario. Planning ahead gives you control over timing, terms, and value.

6. The First Smart Step — Even If You Aren’t Actively Selling

Even if you’re not ready to list your business this year, you can (and should) take first steps now:

  • Document your processes – who does what, how things are done, store workflows.
  • Update your bookkeeping and performance metrics so you’re always “sale-ready”.
  • Review your store’s appearance and operations: what would a buyer see when they walk in?
  • Talk to your advisors (accountant, lawyer, broker) about exit-planning. While the webinar is resale-industry specific, these universal steps matter in any sector.
  • Create a transition plan: consider when you might want to exit, what you’ll do next, how the store should run without your full daily control.
Exiting your business is a major decision. But here’s the good news: you’re in control. Preparing to sell is not just about finding a buyer — it’s about shaping your business so it can be sold when you decide the time is right.
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