Niche Exit Planning Strategies
Selling a Down Bedding Business
Most businesses are susceptible to economic conditions and down bedding businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
The down bedding business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Yet everyday, hundreds of listed down bedding businesses manage to pique the interest of qualified buyers. They do it by paying attention to the details that other business sellers overlook.
Laying the Groundwork
Effective down bedding business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a down bedding business to the marketplace. Financial statements, appraisals, operations manuals and other documents lay the foundation for your down bedding business sale, creating incentives for prospects to agree to a higher asking price.
Signs You're in Over Your Head
Many down bedding business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other down bedding businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your down bedding business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
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