As you only liquidate the company, and not the business, this means that you can go back to your business model, have a look at where things went wrong and put a new company in place to implement the new improved business model.Liquidation does not mean an automatic ban on you being a director again.Startup Costs: ,000 - ,000 Part Time: Can be operated part-time. Purchased right and this same inventory can sometimes be bought for as little as five cents on the dollar. No Every year thousands of retail merchants and corporations across North America go out of business, move, reform, and amalgamate, and often this results in billions of dollars worth of stock and inventory becoming available at bargain basement prices.As with most things, it is a lot easier if you do these BEFORE the liquidation is in place.Like many directors, you may well see the business and the company as the same thing. The business is the model for making money, and the company is the vehicle for implementing that.
A good starting point for purchasing bargain inventory (at least until the business builds a reputation and contact base as a liquidator) is to establish alliances with trustees that deal in commercial bankruptcies.
This is a very common mistake for first timers in this industry.
Traditionally, the best type of products to purchase under inventory liquidation conditions are power and hand tools, nonperishable food items, books, music CDs, toys, building materials, and electronics.
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