Business Exits By Industry
Selling a Coin and Stamp Dealers and Supplies Business
You've learned a lot during your tenure as a coin and stamp dealers and supplies business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a coin and stamp dealers and supplies business sale works.
In a skittish economy, coin and stamp dealers and supplies business sellers can access several strategies to receive fair market value from entrepreneurs who understand the value of a good business investment.
Pre-Sale Checklist
The pre-sale checklist for a coin and stamp dealers and supplies business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Leveraging Industry Connections
Today's coin and stamp dealers and supplies business buyers can be found in a variety of locations. 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.
Workforce Concerns
Business sellers face a dilemma when it comes to their employees. The more people who know that the business is on the market, the riskier the sale becomes. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the coin and stamp dealers and supplies business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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