Niche Market Exit Planning Tips
Selling a Bridal Gown Cleaning and Preservation Business
Many business leaders say that now isn't the time to try to sell a bridal gown cleaning and preservation business. At Gaebler, we think it's a great time to sell a bridal gown cleaning and preservation business. Here's why . . ..
You won't find any magic formulas for selling a bridal gown cleaning and preservation business, especially while the market is struggling to overcome the perceptions created by a down economy.
Despite the conventional wisdom, we believe current economic conditions are right for selling a bridal gown cleaning and preservation business. We'll tell you what you need to know to achieve a successful sale outcome
Economic Considerations
When you sell a bridal gown cleaning and preservation business, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your bridal gown cleaning and preservation business will be on the market as well as its sales price. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. When it comes to selling a bridal gown cleaning and preservation business, successful sales sales often boil down to the business itself - not the economy.
The Best Person to Sell Your Bridal Gown Cleaning & Preservation Business
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your bridal gown cleaning and preservation business in the business-for-sale marketplace. The problem is that your passion for your business can also sabotage your sale. Nearly all sellers have an inflated sense of their company's value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful bridal gown cleaning and preservation business sale.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based bridal gown cleaning and preservation business sale can be more complicated than selling to a stranger. In fact, selling your bridal gown cleaning and preservation business to a family member can quickly become a no-win proposition. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Share this article
Additional Resources for Entrepreneurs