Business Exits By Industry
Selling a Cycling Clothes Business
You've learned a lot during your tenure as a cycling clothes business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Dire economic forecasts have forced many cycling clothes business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Success is a factor of preparation, execution and a keen eye for the market. But for business sellers, the process begins with having the right mental attitude.
Sale Costs
In a cycling clothes business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a cycling clothes business sale. 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.
Dealing with Your Emotions
There is no easy way to say goodbye to your business. You probably have good reasons for selling your cycling clothes business now, but that doesn't make the emotions you will experience any easier. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Buyer Concessions
Most cycling clothes business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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