Business Exits By Industry
Selling a Custom Jewelry Wholesale and Manufacturers Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the custom jewelry wholesale and manufacturers business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a custom jewelry wholesale and manufacturers business during challenging economic times.
The economy isn't the only thing that is uncertain these days. So are custom jewelry wholesale and manufacturers business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Yet everyday, hundreds of listed custom jewelry wholesale and manufacturers businesses manage to pique the interest of qualified buyers. They do it by paying attention to the details that other business sellers overlook.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a custom jewelry wholesale and manufacturers business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Pre-Sale Checklist
The upfront time you investment in the sale of your custom jewelry wholesale and manufacturers business will pay big dividends at closing. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Good business brokers are adept at separating serious buyers from the rest of the pack. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
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