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Selling a Clothing Labels Business
Don't believe anyone who tells you it's easy to sell a clothing labels business. A lot of things need to happen before you can successfully exit your business. We'll tell you how to thrive in the middle of it and get top dollar for your company.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
The economy hasn't squashed the market for clothing labels businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Finding Clothing Labels Business Buyers
It's difficult to predict where the buyer of your clothing labels business will come from. Avoid pigeon-holing your search to a single buyer category. That means listing your clothing labels business in trade-specific directories as well as general business-for-sale databases. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
How Much Does It Cost to Sell a clothing labels business?
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. Professional consultations can also represent a significant expense during the course of a clothing labels business sale. If you need to compensate employees to assist with the sale, their services should also be considered.
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