02 Apr Staging a Business!
We recently visited a friend who selling their house. We learned that their realtor had strongly suggested that they pay the cost of having a professional come in and “stage” their home. They obviously wondered why they needed someone to come into their home – hide half of their stuff, add a few new items and move some stuff around. We visited them after “staging.” What a difference; we would have bought it. Our friends were seriously considering staying in the house. Having a pro come in who knows how to make a house appealing makes a lot of sense.
We got to thinking. Could this be applied to a business? In many cases it could be a real reach, but we were taught by the “old pro” that the sale was made when the tire hit the curb. We also were taught that one should drive around the various businesses at night and look for the neon signs that had a letter or two (the more the better) not lit. This lets you know that the owner had lost interest unless one drove by in a few days and it was fixed. A good business person would keep the business clean, tidy and up-to-date.
This is especially important in any business that has customer traffic (a business should be maintained in a clean and neat environment anyhow!); but it’s especially important when a business is dependent on customer activity. If you have such a business and you are seriously considering selling, then here are a few steps you might want to follow.
- Start on the outside. Are the signs working? Do they look fresh and new? If you have an outside with a grass area or a planted one – or both, get a landscaper out and make the place look fresh and new.
- When is the last time you painted the place? Nothing spruces up the place like a new coat of paint.
- If the outside needs sprucing up, talk to your landlord or pay to have it look clean and tidy.
- If your business is retail, clean up the shelves; make the place neat and tidy; if you have old signs up for things you don’t even sell any more – get rid of them. Ask your customers what they think you should do spruce up the place. You might be shocked.
- For you business brokers who have an eye for what makes a business look great, and you haven’t had a deal in while –maybe you have a new profession – a stager for businesses.
Our friends sold their house for a lot more than they thought – thanks to the staging. The same is most likely the same for a business.