Niche Exit Planning Strategies
Selling a Desk Pads and Accessories Business
A good business is about more than dollars and sense. To make your desk pads and accessories business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Are most buyers timid about buying a desk pads and accessories business in today's economic environment? You bet.
If you're ready to move on, now is the right time to sell your desk pads and accessories business.
Maximizing Sales Price
There are no simple ways to sell a desk pads and accessories business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. So what's the lesson? In most cases, hiring a business broker is one of the best things you can do to maximize sales price.
Valuation Methods
Multiple valuation methods exist for a desk pads and accessories business. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. To drive up your sale price, position your desk pads and accessories business by improving variables like assets, revenue and profitability during the years leading up to a sale.
Realistic Expectations
Objectivity is a rare commodity in a business sale. You have invested yourself in making your desk pads and accessories business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Share this article
Additional Resources for Entrepreneurs