Niche Market Exit Planning Tips
Selling a Bath Soaps Business
Is the economy still a little shaky for a business sale? Sure it is. Yet bath soaps businesses continue to sell at a brisk pace, regardless of the economy.
When the economy recovers, we expect to see a sudden influx of bath soaps businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
Undaunted by economic conditions, many bath soaps business sellers are achieving their sale goals through deliberate sale strategies.
Professional Appraisals
Next to your broker, a skilled appraiser is the person most capable of adding value to the price of your bath soaps business. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a bath soaps business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Pre-Sale Checklist
The pre-sale checklist for a bath soaps business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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