Business Exits By Industry
Selling a Canvas Goods Repair Business
The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But canvas goods repair businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your canvas goods repair business.
How to Identify Prospective Buyers
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. Although some canvas goods repair business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a canvas goods repair business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
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