Niche Market Exit Planning Tips
Selling a Bells and Chimes Business
The decision to sell your bells and chimes business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Despite the conventional wisdom, we believe current economic conditions are right for selling a bells and chimes business. We'll tell you what you need to know to achieve a successful sale outcome
Timing Your bells and chimes business Sale
When is it the right time to sell your bells and chimes business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling bells and chimes business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the bells and chimes business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized bells and chimes business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. As you prepare for the sale of your bells and chimes business, expect to be asked to finance a substantial part of the sale price.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. Brokerage is particularly common in the bells and chimes business-for-sale market, where aggressive selling strategies are the norm. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your bells and chimes business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your bells and chimes business on BizBuySell.com and other online business-for-sale sites.
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