Niche Market Exit Planning Tips
Selling a Buttons and Badges Retail Business
Most businesses are susceptible to economic conditions and buttons and badges retail businesses are no exception. But in some cases, a down economy can actually improve saleability. To increase your company's sale price, you'll need to perform adequate preparations, positioning it to the catch the eye of profit-minded buyers.
With planning and patience, most buttons and badges retail businesses can be sold for a fair price in the current business-for-sale marketplace.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. With hard work and dedication, your buttons and badges retail business can be sold at or above fair market value right now.
Negotiating Your Sale
As a business seller, you have to be at the top of your negotiating game. In a buttons and badges retail business sale, knowledge is power -- the more you know about your business and prospective buyers, the easier it is to sway negotiations in your favor. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
Dealing with Your Emotions
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. Be prepared to experience everything from elation to remorse during the sale of your business. It's important to allow yourself time to process your emotions during your exit. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.
Working with Appraisers
An experienced appraiser is part and parcel of a successful buttons and badges retail 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. Following the appraisal, you may choose to delay your sale until you can increase the value of assets and revenue.
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