Business Exits By Industry
Selling a Coats Retail Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your coats retail business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
Like it or not, a coats retail business sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. But have you considered how your customers, vendors and employees will handle the sale?
But sooner or later, all good things must come to an end. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your coats retail business.
Average Preparation Time
There are no effective shortcuts for selling a coats retail business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a coats retail business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Closing Strategies
Today's coats retail business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in coats retail business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
Broker vs. No Broker
When selling a coats retail business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your coats retail business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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