Niche Market Exit Planning Tips
Selling a Bicycle Equipment, Parts, and Supplies Wholesale and Manufacturers Business
Is the economy still a little shaky for a business sale? Sure it is. Yet bicycle equipment, parts, and supplies wholesale and manufacturers businesses haven't heard the news and are reporting steady action on the business-for-sale market.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a bicycle equipment, parts, and supplies wholesale and manufacturers business.
If your exit strategy involves selling a bicycle equipment, parts, and supplies wholesale and manufacturers business now, you need to apply the right combination of preparation, strategy and common sense.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. The more people who know that the business is on the market, the riskier the sale becomes. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the bicycle equipment, parts, and supplies wholesale and manufacturers business on the market. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
Sale Costs
In a bicycle equipment, parts, and supplies wholesale and manufacturers business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a bicycle equipment, parts, and supplies wholesale and manufacturers business sale. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
Family Issues
Many sellers embarked on their bicycle equipment, parts, and supplies wholesale and manufacturers business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. The decision to sell a bicycle equipment, parts, and supplies wholesale and manufacturers business often begins with a family conversation and a mutual decision to move on the next stage of life.
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