Niche Exit Planning Strategies
Selling a Designer Clothing and Accessories Business
No one said selling your business in a depressed economy would be easy. Fortunately, a designer clothing and accessories business sale isn't as scary as it seems.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
If your exit strategy involves selling a designer clothing and accessories business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
Selecting a Broker
Good business brokers inevitably produce better business sales. No two designer clothing and accessories business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling designer clothing and accessories businesses.
What About Market Conditions?
No one plans to sell a designer clothing and accessories business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. But when the economy fully rebounds, a shadow inventory of designer clothing and accessories businesses will flood the market and drive prices down even further. Like it or not, the time to sell your designer clothing and accessories business may be right now, as long as your willing to adequately prepare your business for the marketplace.
Preparing Your Employees
Business sellers face a dilemma when it comes to their employees. On the one hand, confidentiality is critical for a successful designer clothing and accessories business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the designer clothing and accessories business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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