As we enter a new year, thoughts about what’s next creep into all our minds. One of the biggest challenges for any jeweler nearing retirement age is what to do with your store. The business has been good to you for decades, but it is beginning to be too much to handle, and you need a change.
The idea of retirement may or may not be attractive, and you may have more options than you think. The whole idea of transition planning is challenging to contemplate on your own, so you may need someone you can trust to help guide the discussion.
At The Gordon Company, we are experts in knowing and understanding retirement issues and transition planning, in addition to handling any type of major sale event to increase cashflow, pay off debt, reduce inventory levels, and bring in new customers. Or you could be contemplating closing, moving, or renovating a store.
In any number of cases, you may need a business valuation or appraisal to understand what your business is actually worth, even if you need to transition it to a family member or trusted employee. Or you may need to contact a CPA to understand the tax ramifications of any decision you make.
There is absolutely no obligation on your part when you contact us. We provide free advice with no expectation beyond helping you think through the options that may be available to you.
If you need help making these decisions in 2023, simply give us a call. We look forward to speaking with you.
Jeff Gordon, CEO