Business Exits By Industry
Selling a Custom-Printed T-Shirts Business
Looking for shortcuts? You won't find them when you sell a custom-printed t-shirts business. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
In a down economy, many custom-printed t-shirts business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of custom-printed t-shirts businesses that are actually for sale.
Success is a factor of preparation, execution and a keen eye for the market. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions custom-printed t-shirts business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Moving On
The decision to sell your custom-printed t-shirts business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
Brokerage Benefits
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Second, a good business broker is a master at confidentiality locating custom-printed t-shirts business sale prospects and guiding sellers through negotiations. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
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