Business Exits By Industry
Selling a Canvas Custom Products Business
Your canvas custom products business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
The good news is that ambitious entrepreneurs continue to see canvas custom products businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Realistic Expectations
For most owners, the hardest part of selling a canvas custom products business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful canvas custom products business sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Negotiation 101
It's critical to negotiate from a position of strength. More often than not, the person with the most knowledge will come out on top in a canvas custom products business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
Adjusting Expectations
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your canvas custom products business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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