Niche Market Exit Planning Tips
Selling a Bathroom Fixtures and Accessories Retail Business
Is the economy still a little shaky for a business sale? Sure it is. Yet bathroom fixtures and accessories retail businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
If you're ready to move on, now is the right time to sell your bathroom fixtures and accessories retail business.
Maintaining Objectivity
Emotions run high during the sale of a bathroom fixtures and accessories retail business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Selling a Bathroom Fixtures & Accessories Retail Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. Seller financing is one way to get around the capital deficit of an employee-based bathroom fixtures and accessories retail business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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