Business Exits By Industry
Selling a Closet Systems and Organizers Business
There is a lot of confusion about the best way to sell a closet systems and organizers business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
With planning and patience, most closet systems and organizers businesses can be sold for a fair price in the current business-for-sale marketplace.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to closet systems and organizers businesses that exhibit strong financials and potential for future growth.
Average Timeframes
Hoping for a quick closet systems and organizers business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your closet systems and organizers business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Negotiation Exit Strategy
Negotiations have a way of dragging on forever. Yet eventually many negotiations reach a stage where further discussion is pointless. It's not unusual for a closet systems and organizers business sale negotiation to reach an impasse over price or other concessions. 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.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. Before your closet systems and organizers business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. 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.
Share this article
Additional Resources for Entrepreneurs