Niche Exit Planning Strategies
Selling a Drapery and Curtain Fabrics Retail Business
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a drapery and curtain fabrics retail business sale isn't as scary as it seems.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. There are lots of buyers who want to own a drapery and curtain fabrics retail business, but have limited capital to get their foot in the door.
The economy hasn't squashed the market for drapery and curtain fabrics retail businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Average Preparation Time
There are no effective shortcuts for selling a drapery and curtain fabrics retail business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. Since all of this takes time and effort, a drapery and curtain fabrics retail business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Sometimes, sellers need to readjust their expectations to accommodate market realties. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Negotiation Exit Strategy
The negotiation stage of a drapery and curtain fabrics retail business can seem never-ending. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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