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Selling a Corporate Gift Baskets Business
Most businesses are susceptible to economic conditions and corporate gift baskets businesses are no exception. But in some cases, a down economy can actually improve saleability. Now all you have to do is convince the right buyer that your business is built for long-term success.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
For sellers who are willing to perform adequate sale preparation, the numbers make corporate gift baskets businesses a solid investment for qualified buyers in the business-for-sale marketplace.
Current Market Conditions
Today's corporate gift baskets business sellers face an intimidating economic landscape. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your corporate gift baskets business as attractive as possible so to buyers right now.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood corporate gift baskets business sellers with questions and requests, often to the point of becoming a nuisance. The questions corporate gift baskets business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
Sale Costs
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your corporate gift baskets business. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
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