Niche Exit Planning Strategies
Selling a Dolls Repair and Restoration Business
When it's time to sell your dolls repair and restoration business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
A business exit is always a trying experience. But when you need to sell your dolls repair and restoration business in a depressed economy, the challenges can seem insurmountable.
To achieve your goals, you'll need to know the market as well as key business selling techniques. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. Although some dolls repair and restoration business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Pros & Cons of a Sale to an Employee
There are both benefits and drawbacks to selling a dolls repair and restoration business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. Since the worker already knows the ins and outs of the business, due diligence should be a breeze, not to mention the fact that you won't have to wait months or years for the right buyer to emerge on the open marketplace. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
Working with Appraisers
An experienced appraiser is part and parcel of a successful dolls repair and restoration business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
Share this article
Additional Resources for Entrepreneurs