Niche Market Exit Planning Tips
Selling a Bicycle Helmets Business
A good business is about more than dollars and sense. To make your bicycle helmets business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to bicycle helmets businesses that exhibit strong financials and potential for future growth.
Average Timeframes
It's rarely possible to sell a bicycle helmets business in a month or two. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your bicycle helmets business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Legal Concerns
A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Why Confidentiality Matters
Highly publicized bicycle helmets business sales are risky bicycle helmets businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. But if word leaks out to the wrong people, your competitors can use that information to steal business and damage your credibility. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
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