Niche Exit Planning Strategies
Selling a Dress Trimmings Business
We hear from a lot of business owners who are timid about listing their dress trimmings business. Despite the mood of the market, we think there are still opportunities to receive a good price for your dress trimmings business. Here's what you need to know . . .
These days, the prospect of selling a dress trimmings business is so daunting that many would-be sellers are biding their time, waiting for a break in the economic clouds.
If your exit strategy involves selling a dress trimmings business in this environment, you need to apply the right combination of preparation, strategy and common sense.
Sale Documents
We run into a lot of dress trimmings business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Advertising Your Sale
The best dress trimmings business sales begin with a carefully planned advertising and promotional strategies. But confidentiality issues are a hurdle you'll need to address before you put your dress trimmings business on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing dress trimmings business sales while maintaining the confidentiality that is critical to your business.
Finding Dress Trimmings Business Buyers
It's difficult to predict where the buyer of your dress trimmings business will come from. So you'll need to take a diverse approach to identifying prospective buyers. Many sellers achieve success by listing their dress trimmings businesses in multiple channels. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
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