Business Exits By Industry
Selling a Candy Store
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a candy store sale. At Gaebler, we think it's a great time to sell a candy store. Here's why . . ..
A business exit is always a trying experience. But when you need to sell your candy store in a depressed economy, the challenges can seem insurmountable.
However, serious buyers also understand the value of a good candy store. To sell your candy store, you'll need to go the extra mile to prove your company has the potential to deliver steady revenue and a solid ROI.
Understanding Market Timing
Now may be the best time to sell a candy store. Although the economy is generally struggling, low interest rates make candy stores more attractive to entrepreneurs who want to get in the game. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
Working with a Professional Accountant
Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Leveraging Seller Concessions
It's becoming more difficult to sell a candy store without considering seller concessions. Not surprisingly, seller financing is routinely requested by today's buyers. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
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