How do I sell a video game store?

Buyers of a game store want to see how it works without you. Most of what you know sits in your head: which trade-ins to take, how to test them, what to charge and who your regulars are. Selling goes better when that knowledge is on paper and the records match the shelves. Start preparing well before you tell anyone the store is for sale.

Count and record the stock

Count the inventory and test what can be tested. Record what each used item cost you in trade-in, so a buyer can see how the stock was built. Separate new, used, retro, consoles and accessories. Keep your personal collection apart and labelled so it never gets mixed into the count. Clean records make closing questions easier to answer.

Show sales by category

Split your sales the same way as the stock, and show what comes through the counter, through online storefronts and from events or repair work. A buyer can then see where the activity comes from. Your accountant can help you present the records so they match your financial statements.

Write down how the store runs

Put your trade-in and pricing steps in writing so a new owner can follow them. Do the same for repairs, events and preorders. List open store credit and pre-orders, because a buyer will want to know what the store owes customers. Ask your lawyer about moving supplier and distributor accounts and online storefronts into the business’s name, and ask each supplier how a change of owner is handled.

Sell the running store, or wind down

Decide whether you want to sell the store as a going concern or close it and sell the stock. Each route has different work and different tax and legal consequences, so ask your lawyer and accountant before you choose. If you use a broker, ask whom they act for and how they are paid. Our page for buyers, should I buy an existing video game store or start one, shows what they will be weighing.