Closed Business

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OPEN CLOSED BUSINESS HOURS SIGN 10 x 14 w Numbers Chain & Suction Cup Window NEW OPEN CLOSED BUSINESS HOURS SIGN 10 x 14 w Numbers Chain & Suction Cup Window NEW Paypal US $11.88 13d 14h 17m
Reversible Business Reversible Business "Open/Closed" Sign, with Suction Mount, 13 x 5 USS4246 Paypal US $13.99 10d 1h 23m
OPEN CLOSED SIGN 8 x 12 Double Sided NEW Red White Plastic Window Business Store OPEN CLOSED SIGN 8 x 12 Double Sided NEW Red White Plastic Window Business Store Paypal US $5.88 9d 23h 59m
Unique Antique Style Open Closed Shop Sign Store Sign Tin Store Business Signs Unique Antique Style Open Closed Shop Sign Store Sign Tin Store Business Signs Paypal US $14.99 2d 13h 13m
Unique Funky Handmade by Local Artisan Metal Open Closed Business Colorful Sign Unique Funky Handmade by Local Artisan Metal Open Closed Business Colorful Sign Paypal US $40.00 29d 18h 5m
9 9" X 12" BUSINESS OPEN / CLOSED SIGNS LOT OF 3 RED/BLACK PLASTIC Paypal US $2.00 23d 13h 32m
Reversible Open Closed Business Sign 13 x 5 Reversible Open Closed Business Sign 13 x 5 Paypal US $21.07 27d 17h 34m
14 14" BY 10" BUSINESS HOURS OPEN / CLOSED SIGNS Paypal US $16.99 26d 11h 43m
SORRY WE'RE  CLOSED Store  Business Hours Sign Plastic Weatherproof SORRY WE'RE CLOSED Store Business Hours Sign Plastic Weatherproof Paypal US $9.99 20d 7h 55m
CLOSED Flag Store Banner Advertising Pennant Business Sign New 3x5 Foot CLOSED Flag Store Banner Advertising Pennant Business Sign New 3x5 Foot Paypal US $6.98 23d 11h 24m
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Closed Business
Closed Business
If you own a business that is incorporated and it is closed down, can you be charged personally for bills?


Bills that were not paid by the business. I am under the impression that having the business incorporated saves you from having to pay for those things. Our business was closed and it was incorporated from the start. The business is now dissolved..but there is still a company hounding the business for a bill that just could not be paid. Will we have to do that personally?
I did not own it, my husband did, and we are not trying to weasle out of it, we are just wondering if we will be responsible...thanks

Incorporating a business is to prevent yourself from being personally liable for issues that may arise. However, that doesn't mean that the debt is foregone just because the corporation has been dissolved. Considering that it was a small corp owned and operated by you, in some ways you are liable for this and it could go back in a lawsuit that you will be responsible if they pursue. Corporations have limited protection, not absolute. Rather than try to weasel your way out of paying debt you owe, you should find a way to pay it off.



OPEN CLOSED BUSINESS HOURS SIGN 10 x 14 w Numbers Chain & Suction Cup Window NEW OPEN CLOSED BUSINESS HOURS SIGN 10 x 14 w Numbers Chain & Suction Cup Window NEW Paypal US $11.88 13d 14h 17m
Reversible Business Reversible Business "Open/Closed" Sign, with Suction Mount, 13 x 5 USS4246 Paypal US $13.99 10d 1h 23m
OPEN CLOSED SIGN 8 x 12 Double Sided NEW Red White Plastic Window Business Store OPEN CLOSED SIGN 8 x 12 Double Sided NEW Red White Plastic Window Business Store Paypal US $5.88 9d 23h 59m
Unique Antique Style Open Closed Shop Sign Store Sign Tin Store Business Signs Unique Antique Style Open Closed Shop Sign Store Sign Tin Store Business Signs Paypal US $14.99 2d 13h 13m
Unique Funky Handmade by Local Artisan Metal Open Closed Business Colorful Sign Unique Funky Handmade by Local Artisan Metal Open Closed Business Colorful Sign Paypal US $40.00 29d 18h 5m
9 9" X 12" BUSINESS OPEN / CLOSED SIGNS LOT OF 3 RED/BLACK PLASTIC Paypal US $2.00 23d 13h 32m
Reversible Open Closed Business Sign 13 x 5 Reversible Open Closed Business Sign 13 x 5 Paypal US $21.07 27d 17h 34m
14 14" BY 10" BUSINESS HOURS OPEN / CLOSED SIGNS Paypal US $16.99 26d 11h 43m
SORRY WE'RE  CLOSED Store  Business Hours Sign Plastic Weatherproof SORRY WE'RE CLOSED Store Business Hours Sign Plastic Weatherproof Paypal US $9.99 20d 7h 55m
CLOSED Flag Store Banner Advertising Pennant Business Sign New 3x5 Foot CLOSED Flag Store Banner Advertising Pennant Business Sign New 3x5 Foot Paypal US $6.98 23d 11h 24m
2 Closed 3x5 Flags Banner Business Sign U Choose! 2 Closed 3x5 Flags Banner Business Sign U Choose! Paypal US $13.35 21d 19h 37m
Open/Closed Changeable Message Sign For Your Business Open/Closed Changeable Message Sign For Your Business Paypal US $51.96 21d 13h 11m
KEEP DOOR CLOSED Service Sign 3D Plastic 6x13, Business KEEP DOOR CLOSED Service Sign 3D Plastic 6x13, Business Paypal US $7.29 17d 5h 42m
US Stamp & Sign Reversible Business Open Closed W/ Suction Mount 13 US Stamp & Sign Reversible Business Open Closed W/ Suction Mount 13" X 5" New Paypal US $26.53 19d 14h 23m
Closed Red White Blue 3'x5' Flag New Business Banner! Closed Red White Blue 3'x5' Flag New Business Banner! Paypal US $6.40 15d 11h 35m
NEW BUSINESS OFFICE STORE DOOR Reversible Sign OPEN CLOSED Will Return Clock NEW BUSINESS OFFICE STORE DOOR Reversible Sign OPEN CLOSED Will Return Clock Paypal US $9.00 19d 4h 17m
CLOSED SIGN - METAL ART HOME OFFICE  or BUSINESS DECOR CLOSED SIGN - METAL ART HOME OFFICE or BUSINESS DECOR Paypal US $19.95 5d 4h 12m
CLOSED FLAG BUSINESS POSTER BANNER PENNANT 3'X5' CLOSED FLAG BUSINESS POSTER BANNER PENNANT 3'X5' Paypal US $6.99 16d 7h 22m
NEW OPEN / CLOSED Programmed LED Business Sign NEW OPEN / CLOSED Programmed LED Business Sign Paypal US $65.99 1d 20h 19m
5 CLOSED 3x5 Flag Banner Business Sign NEW! WHOLESALE 5 CLOSED 3x5 Flag Banner Business Sign NEW! WHOLESALE Paypal US $21.99 14d 7h 48m
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Closed for Business


Closed for Business


$99.99


Norman Rockwell Closed for Business - Framed Art Print

Magnetic Closed Business Card Metal Holder Leather Case


Magnetic Closed Business Card Metal Holder Leather Case


$7.49


Description:Wonderful gift Magnetic Closed Card Holder to family members or friendsA great way to carry And present your business cards.A compact storage solution Business Card Holder that keeps your cards clean, undamaged And fit inside any pocket.Metal Card Holder holds about 15-20 business cards / 4-6 Credit cards or ID card depending on thickness of cardsMaterial: faux leather and magnetic metal for easy to open and close.Size: 10.2 x 6.7 x 1.3cm ( fits for 9.1 x 5.9cm card )Weight: 51.8gPackage content:1 x Business Card Leather Case

All Light Closed by Flos


All Light Closed by Flos


$504


The Flos All Light Closed is a modern design that works in both functional and fashionable arenas. The "closed" design refers to the sheet of bent steel that frames the fixture and slightly deflects illumination for greater focusing control. Designed by Rodolfo Dordoni. FLOS Lighting, headquartered in Italy, provides innovative concepts and classic products through technical excellence and a high-quality approach to lamp design. The Flos All Light Closed is available with the following: Details:Rectangular Opal polycarbonate shadePlastic and steel compositionRectangular wall plateCan be installed horizontally or verticallyUL ListedADA CompliantDesigned by Rodolfo DordoniOptions:Finish: Brushed Steel, Chrome, Grey, Matte White, or Shiny Black.Lighting: One 25 Watt 120 Volt Type T5 Fluorescent lamp (not included). Shipping: This item usually ships within five business days. Dimensions: Shade: Depth 3.2 In. Fixture: Height 2.2 In., Width 24 In.

Open for Business, Closed to People : Mike Harris's Ontario


Open for Business, Closed to People : Mike Harris's Ontario


$19.45


No Synopsis Available

Tennsco Foreman's Closed Style Desk


Tennsco Foreman's Closed Style Desk


$398.99


1 1 Each 20% 25% 34.50" 39" 39" Length x 34.50" Width 53" Height Foreman's desk provides a convenient yet sturdy writing surface. Heavy steel construction includes 14-gauge corner posts. Ideal for the industrial workplace, businesses, schools and institutions, both as a dock desk and in manufacturing areas. Use compartmentalized riser for storing writing utensils, forms and papers. Roomy lockable cabinet provides additional storage for supplies. Business Environment Educational Environment Foreman's Closed Style Desk Locking - Cabinet Medium Gray Pedestal Desk Rectangle SR-58MGY Steel Tennsco Tennsco Corp Yes www.tennsco.com

U.S. Stamp & Sign Open/Closed Letter Board


U.S. Stamp & Sign Open/Closed Letter Board


$37.99


0% 0.75" Height 338 Character 1 Each 13" 15" 15" Width x 13" Height 3727 Open/Closed Letter Board: Suction Cups Full set of 338 assorted 0.75" letters, numbers and symbols Open/Closed message sign features a message area on both the front and the back of sign. Communicate with customers as they enter and exit your business. Ultra-thin, lightweight sign installs in minutes using supplied suction cups. The open and closed part of the sign flips and reverses easily so you don't have to reapply the sign every day. Letter board includes a full set of 258 assorted 3/4" letters, numbers and symbols. Assorted Black Both Sides Display English Indoor Information Sign No Open/Closed Letter Board Open/Closed Preprinted Rectangular Red U.S. Stamp & Sign White www.usstamp.com/

Case Closed 43 (Paperback)


Case Closed 43 (Paperback)


$8.4


Reads R to L (Japanese Style), for audiences rated teen plus. Jimmy Kudo, the son of a world-renowned mystery writer, is a high school detective who has cracked the most baffling of cases. One day while on a date with his childhood friend Rachel Moore, Jimmy observes a pair of men in black involved in some shady business. The men capture Jimmy and give him a poisonous substance to rub out their witness. But instead of killing him, it turns him into a little kid! Jimmy takes on the pseudonym Conan Edogawa and continues to solve all the difficult cases that come his way. All the while, he`s looking for the men in black and the mysterious organization they`re with in order to find a cure for his miniature malady.

Lewis N Clark ID80BLKHT Slim Leather Business Card Luggage Tag with Closed Security Window  Black


Lewis N Clark ID80BLKHT Slim Leather Business Card Luggage Tag with Closed Security Window Black


$21.1


Closed security window. Minimum order quantity: 2 pieces. Color: Black. Dimensions: 4.5 H x 2.88 W. Satisfaction ensured.

Case Closed 38 (Paperback)


Case Closed 38 (Paperback)


$25.58


Reads R to L (Japanese Style) T+ audience. Jimmy Kudo, the son of a world-renowned mystery writer, is a high school detective who has cracked the most baffling of cases. One day while on a date with his childhood friend Rachel Moore, Jimmy observes a pair of men in black involved in some shady business. The men capture Jimmy and give him a poisonous substance to rub out their witness. But instead of killing him, it turns him into a little kid! Jimmy takes on the pseudonym Conan Edogawa and continues to solve all the difficult cases that come his way. All the while, he`s looking for the men in black and the mysterious organization they`re with in order to find a cure for his miniature malady.On the Ropes A pro wrestler is murdered before a match, and the killer is caught on camera: the famous masked wrestler Wolf Face! But was it really Wolf Face behind the mask, or is someone trying to frame the champ? It`s up to Conan to identify the murderer--and up to Rachel to pin him to the mat!

Case Closed 42 (Paperback)


Case Closed 42 (Paperback)


$20.56


Reads R to L (Japanese Style), for audiences T+. Jimmy Kudo, the son of a world-renowned mystery writer, is a high school detective who has cracked the most baffling of cases. One day while on a date with his childhood friend Rachel Moore, Jimmy observes a pair of men in black involved in some shady business. The men capture Jimmy and give him a poisonous substance to rub out their witness. But instead of killing him, it turns him into a little kid! Jimmy takes on the pseudonym Conan Edogawa and continues to solve all the difficult cases that come his way. All the while, he`s looking for the men in black and the mysterious organization they`re with in order to find a cure for his miniature malady. The Woman in Black In their most monstrous case yet, Conan and his friends dress up as famous monsters for a murder mystery game set on a creaky ghost ship. It`s an evening of spooky fun?until a real murder interrupts the game. Then it`s up to Jimmy Kudo to figure out which rubber mask hides the face of a killer! But there`s more than one monster on the loose. Faced with evidence that the Men in Black have discovered their real identities, Conan and Anita have only one hope: find the deadly assassin Vermouth before she finds them. Can they unmask the Syndicate`s top mistress of disguise?

Eyes Closed


Eyes Closed


$11.49


Eyes Closed

Closed Book


Closed Book


$6.99


Closed Book


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Mansun - Closed for business


Buy a Business and Save Money

Buying a Non-Performing Business

Most people shop for a business that is generating a good profit. But sometimes you discover a business that is either not making money, or because of the record keeping habits of the owner, profitability is difficult to verify. While walking away from these is the general word of advice, some of these businesses make great investments for the right person.

If you are ready to own your business, Legacy Venture Group, Inc. suggests that you consider a non-performing business, but only if you are certain you can improve it. One of the best advantages of investing in a non-performing business are that you can command a great offer price for the business and you can get started rapidly.

Find Business You Can Improve by Better Management: Keep in mind that most non-performing businesses generally suffer management challenges that can be significantly improved. Michael Gerber, author of The E-Myth, says “If they don’t fail outright, most businesses fail to fully achieve their potential. That’s because the person who owns the business doesn’t truly know how to build a company that works without him or her... which is the key.”

Look for companies that are not executing business basics well that you have skill and expertise in; look at the company’s customer service,  marketing, measurement and control programs, financial management, and processes and systems. Make observations and understand how the seller manages the business. Many business owners start off creating companies around a technical skill they have, but they never develop a thriving business that can sustain the rigors of the marketplace.

Hold Off Spending Money on Physical Improvements: Avoid buying existing businesses that require tons of capital to get the business up and running right. This does not mean that you have to wait to find the perfect business that fits your dream image.  If the business has a leaking roof, or has a bunch of broken equipment that is essential for its operation, then you may want to keep looking for another business. But if the changes that the business needs to be profitable are primarily managerial, you should consider whether you can lead the business toward success

Hold off on the remodel or the big capital investment – at least for a several months. Fix the managerial needs first and see how the business runs. Build up cash flow. You might discover that you don’t need as many capital improvements as you initially thought. You might discover that your vision of change has adjusted after running the business, allowing you to make even more effective improvements tailored to your client’s needs and wants.

Always Create a Written, Organic Business Plan: No matter whether you are starting a business from nothing, buying a new franchise, or buying an existing business that is doing well, you must have a plan. It needs to be in writing and specific. It does not have to be long and laborious, but you need to put a great deal of thought, research and knowledge into it. Share it with others you respect – people who care enough to challenge you.

Make your business plan organic; you need to continually make sure your plan fits the current conditions of the market place. But always have a written plan. Don’t fool yourself by thinking you can keep it all in your head. Others need to understand it as well. If you don’t have the time and energy to put a plan in writing, don’t bother investing in a business.

Compare the Non-Performing Business to Starting a Business from Scratch: Other than the lack of profitability, does it meet many of your needs and wants. Create a list of needs and wants of your ideal business (location, size, equipment, etc). Compare it to other business investment options. Many times you can get a non-performing business, or even a closed business with all the assets in place, for much less than it takes to build a new one.  Talk to anyone who has built a new business from scratch and ask them how much it cost to get it open. Remember to consider build-out costs, permits, cost overruns, and all kinds of expenses that are easy to overlook when planning. Factor in the expense of not being in business while you are in the planning and build-out phase which often goes longer than you anticipate.

We see many clients struggle to find a perfect business. However, most people I know who build businesses, especially for the first time, come to realize there are many things they wished they had done differently and that what the nave built from scratch still was not perfect. Choose something you can live with and improve.

Compare to Buying an Existing, Profitable Business: Realize that a profitable business will typically demand much higher price compared to a non-performing or closed business. If you can fix the managerial aspect of the non-performing business, and apply your business plan effectively, you might be able to save a great deal of money.

 

Non-Performing

Start-Up

Existing

Closed but Set Up

Current SDE – monthly

None, Little

None         

Med to High

$0

Cost to Get In & Doors Open

Low

High

High (figure 2.5 times SDE)

Low

Cost to build-out

Low

High

None

Low

Cost to Market the Business

High

High

Low

High

*SDE – Seller’s Discretionary Earnings or the total economic benefit the owner derives from the business; for larger companies one might consider EBITDA

Below is a very simple example. It is not designed to give you real figures, but to provide an idea of how to layout and compare choices.

 

Non-performing

Start-Up

Existing

Closed but equipped

Example

Pizza Shop #1

Pizza Shop #2

Pizza Shop #3

Pizza Shop #4

Current SDE – Monthly

$0 – Breaking Even

None

$5,000 / m

None

Cost to get In

$50,000

$0

$150,000 (2.5 x SDE)

$10k Transfer / finders

Build Out

$10,000 - New sign, paint…

$175,000 – Equipment, build out, permits…

$5,000 – minor modification

$10,000 - New sign, paint…

Marketing Cost – Monthly

$500

$500

$500

$500

Expected Opening Time

1 month           

4 months

0

1 month

Cost of not being open

$1,500

$9,000

$0

$1,500

SDE at 6 months

$4,000 (assume $0 until then)

$3,000 (assume $0 until then)

$6,000 (assume $5,000 until then)

$3,500 (assume $0 until then)

SDE at 12 months

$8,000

$8,000

$8,000

$8,000

Total 12 month Cost including start-up & marketing

$67,500

$192,000

$161,000

$27,500

Estimated SDE in first 12 months

$24,000

$18,000

$66,000

$21,000

Next 12 months

$96,000

$96,000

$96,000

$96,000

How Much Should I Pay?: Remember the rule – “buy potential, pay for performance” (from http://www.ThinkingOutsideTheBoss.com).  The price should be significantly less than the cost to create a brand new one in a similar location, or buying a profit-yielding business. If the performance of open non-performing business is zero or negative, look at the asset value – tangible and intangible. Tangible assets include the value of equipment, vehicles, and computers. Always consult with your accountant for deeper understanding of business financials.

Intangible assets include things like the reputation, brand, and the fact that at least some customers are coming in. Most buyers fail to recognize the intangible value of the business. Remember to do your research on the cost of a start-up; seek input from one or two people who have created similar businesses in the last few years. Take into account the cost of getting started and going for a period of time without cash flow.

Summary: Many businesses are not making money because the right management processes have yet to be put in place. Shopping for businesses during an economic decline following a flourishing economy provides great opportunities for business buyers. Many businesses that did well in a thriving economy struggle in a sluggish economy. As a result, many such businesses have come on the market. It is worth considering businesses that interest you, to determine if your skills and abilities make it worth taking advantage of the savings you can experience by purchasing a non-performing business. For more tools and tips, visit http://www.BuyBizUSA.com. Good luck in your search. Buy a business, begin a dream.

About the Author

Founder of Legacy Venture Group and BuyBizUSA.com. Supporting the transition of business ownership for companies under $20MM in sale. Certified Business Intermediary from IBBA. MBA and Florida Licensed Broker.