How to Sell Your Pawn Shop and Retire Sooner Rather Than Later

There’s nothing wrong with living comfortably while putting money back into your business—unless you aren’t able to save enough money for retirement while you’re doing it.

Unfortunately, the majority of independent pawn brokers don’t save enough money to retire comfortably. This makes selling their pawn shops for as high a price as the market will bear not only the best possible outcome, but in many cases, the only outcome that will make retiring an option.

Three things that you can do now to prepare to sell your pawn business for an amount that will enable you to retire sooner rather than later are:

1. Develop an exit strategy that takes into account how much, after taxes, you will need from the sale of your pawn business in order for your family to live comfortably throughout your retirement.
2. Create a marketing strategy based on financial data and market intelligence that accurately reflects your business’s strengths, and then implement it by presenting your information in a way that appeals to buyers.
3. Reach out to qualified pawn business exit strategy consultants for support throughout the selling/closing process. A qualified pawn business exit strategy consultant can help you develop your exit and marketing strategies, and then use the data they’ve accumulated to show potential buyers not only how successful your business has been over the course of time, but how successful it will be once new buyer takes over. This can greatly increase your chances of selling your pawn shop or shops at a price that will enable you to retire—and retire well.

If you’re ready to retire from your pawn business, but suspect or have been told that you won’t get enough from the sale of your business to make retiring possible, contact Stallcup Group. You may think that you will have to continue working for the next 10 or 20 years in order to save an amount that will make it possible for you to retire, when in reality, you could be able to retire in a matter of months. Through a free, no-obligation business evaluation, Stallcup Group can help you determine what type of sale price you could achieve if you were to begin the selling process today.