26 Nov 2012

Small business owners need a plan to sell before retiring

Small business owners preparing for retirement need to have a plan laid out when selling their businesses.

Entrepreneurs who are undergoing a move should consider running business operations out of a self storage unit, to replace the high price of office rent with the low price of a storage facility.

Larry Wasser, entrepreneur at the Rotman School of Management, recently conveyed to the Toronto Star the emotional toll that selling a small business has on the owner.

“I don’t know that you can prepare," Wasser told the news source. "But in every entrepreneur’s DNA is the burning desire to be successful, and they tend to be good at change. They need to adapt the skillset they’ve used at business and now use it on their own being.”

Small business owners are encouraged to plan accordingly, calculate the value of their business and not sell cold turkey.

Jiffy offers businesses plenty of options for Toronto storage, whether one needs to store filing cabinets or office supplies. What's more, the company is currently holding a contest for a new iPad 3, which is a device that just about every business person could use to help improve productivity.

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