Just like home buyers, prospective business buyers spot what’s worn, cluttered and dated. Like moths to a flame, they’re drawn to the defects, adding up renewal and revitalizing costs. Some may see the business as an opportunity; all will see it as worth less money.
Like financial factors and organizational factors, operational factors can add or take away value. We’ll start with the most conspicuous.
Clean up the shop, warehouse, office, store:
- Dirt and dust say you don’t care. Show your customers and staff that you do. Clean and freshen up all store, work and rest areas.
- Do your assets need repair or replacement? Deal with it.
- What about your inventory. Do you have more than you need to sustain average levels of sales? Sell off the excess. Take the same approach to eliminate unneeded files, procedures, equipment and programs.