Niche Exit Planning Strategies
Selling a Dance Supplies Wholesale and Manufacturers Business
Many business leaders say that now isn't the time to try to sell a dance supplies wholesale and manufacturers business. At Gaebler, we think it's a great time to sell a dance supplies wholesale and manufacturers business. Here's why . . ..
Dire economic forecasts have forced many dance supplies wholesale and manufacturers business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Market timing is a constantly moving target. That's why we think it's important for dance supplies wholesale and manufacturers business owners to know that it's possible to sell a business in any economy. To improve sale outcomes, you will simply need to tailor your dance supplies wholesale and manufacturers business to today's buyers.
How Much Does It Cost to Sell a dance supplies wholesale and manufacturers business?
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your dance supplies wholesale and manufacturers business. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Professional consultations can also represent a significant expense during the course of a dance supplies wholesale and manufacturers business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. 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.
Dealing with Your Emotions
There is no easy way to say goodbye to your business. You probably have good reasons for selling your dance supplies wholesale and manufacturers business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.
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