2. The value of the building, minus debt. The rent on the building could sometimes be more than what your current business might net. Especially if the new tenant pays “net expenses” taxes, insurance and ALL maintenance.

3. The actual inventory of the business- generally not so much money involved here and many things will sell for way below your cost when the liquidation takes place.

4. The goodwill- this is where things get dicey. Some folks think because they been in business for a long time that their business is worth more than one that just opened. Only the case when the customers return. If they’re going down the road to Lowes, then there is no goodwilll with that customer.

Generational businesses can survive- you’ll just have to work just as hard as your dad did. For some good reading try “good to great” and built to last both books about generational businesses. Good luck in your difficult decisions slogoing@sbcglobal.net

If the business is loosing money with no sights of turning it around you need to bit the bullet and close it down.

Now on the upside you own some good property! How can you make money from it? Sell it? Lease it? Or do something different on your own.

Change often times offer great new options! mstrobert