Niche Exit Planning Strategies
Selling a Dolls and Accessories Retail Business
A good business is about more than dollars and sense. To make your dolls and accessories retail 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.
Despite your best intentions, great business sales don't happen overnight.
Many business owners don't know that dolls and accessories retail businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
The Emotions of a Business Sale
There is no easy way to say goodbye to your business. Although you might think you're ready to exit your business, selling and separating from a dolls and accessories retail business scan stir up a range of emotions. It's important to allow yourself time to process your emotions during your exit. 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.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based dolls and accessories retail business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
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