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Old 03-16-2007, 09:22 PM   #3 (permalink)
TheColonel
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I don't know what your numbers look like, but when I was in your shoes (recently), I talked to a broker about selling my business. If you've got ANY A/R or contracts or anything of value, you can get a chunk of money.

Also, talk to your landlord. Many landlords will get flexible when facing the prospect of having to replace a tenant. If you're 3 months late, maybe you could work an arrangement to sever the lease and pay him what you owe him over time. It would be cheaper for him to do that then litigate over 6-7 months front rent.

Another idea would be to shop for a related company that would lease you a corner of their retail space. For example, if you're a computer repair shop, find a Radio Shack (or whatever) franchise offer them $xxx/month to set up an area in the back of their store. Your current customers would become their NEW customers, and vice versa. In addition, you'd be helping them cover their lease.
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