Business Exits By Industry
Selling a Card Shop
Looking for shortcuts? You won't find them when you sell a card shop. In this industry, a business sale takes time, effort and dedication. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a card shop.
Nothing lasts forever and you will ultimately be faced with the task of selling your company. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your card shop.
Leveraging Industry Connections
There are a lot of different places to look for card shop buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Selling a Card Shop to an Employee
There are both benefits and drawbacks to selling a card shop to an employee. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based card shop sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Setting the Stage
Effective card shop preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a card shop to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium card shop opportunity.
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