Niche Market Exit Planning Tips
Selling a Bridal Shops Business
Don't believe anyone who tells you it's easy to sell a bridal shops business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Selling a bridal shops business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Despite the conventional wisdom, we believe current economic conditions are right for selling a bridal shops business. We'll tell you what you need to know to achieve a successful sale outcome
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your bridal shops business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a bridal shops business sale by setting realistic expectations before you list your business.
Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized bridal shops 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 bridal shops business, expect to be asked to finance a substantial part of the sale price.
Working with Appraisers
An experienced appraiser is part and parcel of a successful bridal shops business sale. By hiring an appraiser to conduct a thorough appraisal of tangible and non-tangible assets prior to listing, you get a measure of the true worth of your business. Although the appraised value of your business may not be the same as the sales price, you gain valuable insight that can be used to your advantage during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
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