Hardware Retailing

OCT 2018

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: http://www.hardwareretailingarchive.com/i/1030469

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Page 70 of 102

Ways to Prep for Your Succession Plan 8. Determine your role post-sale. If you're handing the business off to one of your children or another family member, you likely won't be able to escape questions about the operation for long. Regardless of your relationship with the buyer, discuss with your successor what they need from you before your last day. It may be sensible for you to oversee operations for several months, or even years, before you officially hand over the business, depending on your successor's knowledge of and experience in the operation and the industry. 7. Develop a forward-looking business plan. Outlining the potential growth opportunities for your business in the future could be a strong selling point, especially if you're looking outside your family for the next owner. If you're in the early stages of succession planning, look to the future to see how you can be ahead of trends to continue differentiating your business. WWW.MAXUSACORP.COM 800.223.4293 WWW.MAXUSACORP.COM QUALITY · DURABILITY · INNOVATION FOR OVER 75 YEARS DURABILITY- MAX manufactures tools with features that allow them to stand up to the harsh environments in which they are used. One such feature is the patented maintenance free end cap filter (U.S. Patent 5637125) that captures dirt and sand down to 11 microns. The filter has a self-cleaning feature that automatically ejects foreign substances from the tool when the air hose is disconnected. Internal parts last longer and the inside of the tool is kept clean. INNOVATION- MAX employs over 200 R&D engineers who work around the clock to innovate tools that feature unique innovations to more efficiently get jobs done. QUALITY- MAX backs the quality of its tools with a 30-Day Contractors' Promise. Contractors can return a tool within 30 days of the purchase date for any reason; no questions asked. MAX also offers a 5-Year warranty on most of its 100 PSI tools. Some Restrictions Apply. DO IT BEST FALL MARKET, INDIANAPOLIS, IN OCTOBER 12 - 15, 2018, BOOTH: 1230 STAFDA TRADESHOW AND CONVENTION, PHOENIX AZ OCTOBER 28 - 30, 2018, BOOTHS: 423, 425, 427 LEARN MORE ABOUT MAX TOOLS

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