| Discussion Forum: Thread 325607 |
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| | | Author: | Brickpickersuk  | | Posted: | Aug 15, 2022 08:48 | | Subject: | Advice with selling my store. | | Viewed: | 171 times | | Topic: | General | |
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| Hi All
I’ve come to a point in this journey where I don’t wish to go any further. I’m
looking to sell my store/inventory. It’s currently sat at 9k+ lots and over 600k
parts. As of 15/08/2022 it’s worth £40k at the 6month average. I also have around
300kg of loose unsorted lego which isn’t listed.
I suppose my question is how would you go about selling? How much would you think
is realistic to expect.
Also if you have any experience in buying or selling a store I would love to
hear your thoughts.
Many Thanks
Brickpickersuk
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| | | | | Author: | Brick_Qc | | Posted: | Aug 15, 2022 09:30 | | Subject: | Re: Advice with selling my store. | | Viewed: | 67 times | | Topic: | General | |
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| In General, Brickpickersuk writes:
| | Hi All
I’ve come to a point in this journey where I don’t wish to go any further. I’m
looking to sell my store/inventory. It’s currently sat at 9k+ lots and over 600k
parts. As of 15/08/2022 it’s worth £40k at the 6month average. I also have around
300kg of loose unsorted lego which isn’t listed.
I suppose my question is how would you go about selling? How much would you think
is realistic to expect.
Also if you have any experience in buying or selling a store I would love to
hear your thoughts.
Many Thanks
Brickpickersuk
|
If you want to sell in one lot, you have to ask yourself who has the money. I'd
reach out to the biggest sellers in the UK and check for interest. That will
give you the least amount of money (still a lot of $$$) but with minimum effort.
I didn't check your inventory, but perhaps expect 1/3 the inventory value.
For the max return, you'll have to start discounting progressively in your
store. That will be time expensive because of the large amount of orders you'll
get.
So you have to decide what's the effort you'll willing to put in and
your timetable, that will tell you how to procede.
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| | | | | | | Author: | Hal8472 | | Posted: | Aug 15, 2022 20:32 | | Subject: | Re: Advice with selling my store. | | Viewed: | 67 times | | Topic: | General | |
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| In General, Brick_Qc writes:
| | In General, Brickpickersuk writes:
| | Hi All
I’ve come to a point in this journey where I don’t wish to go any further. I’m
looking to sell my store/inventory. It’s currently sat at 9k+ lots and over 600k
parts. As of 15/08/2022 it’s worth £40k at the 6month average. I also have around
300kg of loose unsorted lego which isn’t listed.
I suppose my question is how would you go about selling? How much would you think
is realistic to expect.
Also if you have any experience in buying or selling a store I would love to
hear your thoughts.
Many Thanks
Brickpickersuk
|
If you want to sell in one lot, you have to ask yourself who has the money. I'd
reach out to the biggest sellers in the UK and check for interest. That will
give you the least amount of money (still a lot of $$$) but with minimum effort.
I didn't check your inventory, but perhaps expect 1/3 the inventory value.
For the max return, you'll have to start discounting progressively in your
store. That will be time expensive because of the large amount of orders you'll
get.
So you have to decide what's the effort you'll willing to put in and
your timetable, that will tell you how to procede.
|
I am quite curious. This is an excellent question about the valuation of inventory
which has been on my mind.
To start at the end. What’s the value of the 300kg of loose? I have found
it interesting sorting and listing the mass of low per unit items. I spent one
full day with a resulting uploaded value of about $50 Canadian. If all of that
was to sell the next day in one large order (not even taking into account order
time) I still haven’t met minimum wage. There are many other things I could
do to instead earn more. Frankly I don’t know how other sellers recoup their
time for low cost items (other than minimum qty). So, knowing that the 300kg
has already been picked through by someone knowledgeable of unit costs I suspect
it would be a lot of work for small return.
Now the listed items. Knowing it’s already set up this is a huge time savings,
assuming brickstore file and shipped with inventory locations already set up.
Someone would need to convert to their own system but still easier than scratch.
So, scenario as described. $40k and buyer pays one third or about $13k plus
shipping. How long would it take to see a profit? What’s your monthly sales?
Getting to $13k only return investment but processing orders and making sales
takes time. Factoring that in, probably $20k is closer to break even. A year
is a reasonable time for return of investment. So, can you reasonably expect
to sell half your inventory in a year? That is the process I would use to value
the investment potential.
My disappointing conclusion is that many of our businesses aren’t a great investment.
And therefore have a low bulk resale value. Yet here we are.
So, I have different advice. Find a smaller store who wants to expand, particularly
to full time. Someone willing to invest their own time, for potential long term
payoff. You would need to accept monthly payments instead of everything up front,
however the riskier the road the greater the profit.
Andrew
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| | | | | Author: | yorbrick | | Posted: | Aug 16, 2022 03:31 | | Subject: | Re: Advice with selling my store. | | Viewed: | 53 times | | Topic: | General | |
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| In General, Brickpickersuk writes:
| | Hi All
I’ve come to a point in this journey where I don’t wish to go any further. I’m
looking to sell my store/inventory. It’s currently sat at 9k+ lots and over 600k
parts. As of 15/08/2022 it’s worth £40k at the 6month average. I also have around
300kg of loose unsorted lego which isn’t listed.
I suppose my question is how would you go about selling? How much would you think
is realistic to expect.
|
Realistic value is 20-25% of 6mo average. The 6mo average of parting out new
sets is typically 2-3x so anyone wanting £40k inventory need spend only £20k
or so. But buying an existing store gives you mainly parts that don't sell
or are slow sellers, so a prospective reseller will take that into account and
offer significantly less than 50% of 6mo average.
As for bulk, it depends what it is. If reasonable bricks, £8-10 for 1 kilo plus
50p a figure if selling to a family, half that per kilo if selling in large bulk.
Less if large/heavy but cheap parts, more if partially dismantled but identifiable
licensed sets.
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United Kingdom, England
Canada, Quebec
