Niche Exit Planning Strategies
Selling a Drapery Workrooms Business
No one said selling your business in a depressed economy would be easy. Fortunately, a drapery workrooms business sale isn't as scary as it seems.
Selling a drapery workrooms business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your drapery workrooms business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Broker vs. No Broker
Anyone who has ever sold a drapery workrooms business has eventually needed to decide whether to use a business broker or go it alone. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your drapery workrooms business much less painful. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your drapery workrooms business on BizBuySell.com and other popular online business-for-sale listing sites.
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