Niche Market Exit Planning Tips
Selling a Bamboo, Rattan, and Wicker Home Furnishings Business
We hear from a lot of business owners who are timid about listing their bamboo, rattan, and wicker home furnishings business. Despite the mood of the market, we think there are still opportunities to receive a good price for your bamboo, rattan, and wicker home furnishings business. Here's what you need to know . . .
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
But the good news is that there is still demand for bamboo, rattan, and wicker home furnishings businesses that present well and offer solid earning potential.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
Laying the Groundwork
A successful bamboo, rattan, and wicker home furnishings business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a bamboo, rattan, and wicker home furnishings business to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your bamboo, rattan, and wicker home furnishings business on the market.
Signs You're in Over Your Head
Many bamboo, rattan, and wicker home furnishings business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other bamboo, rattan, and wicker home furnishings businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. The remedy is professional brokerage or a consultation with more experienced sellers.
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