Exit Planning Techniques By Market
Selling a Fireplaces and Accessories Retail Business
We hear from a lot of business owners who are timid about listing their fireplaces and accessories retail business. Despite the mood of the market, we think there are still opportunities to receive a good price for your fireplaces and accessories retail business. Here's what you need to know . . .
Personal and professional concerns surround the sale of a fireplaces and accessories retail business. In our experience, a common owner concern is how the sale will affect customers and employees.
However, serious buyers also understand the value of a good fireplaces and accessories retail business. So for fireplaces and accessories retail business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. Be prepared to experience everything from elation to remorse during the sale of your business. It's important to allow yourself time to process your emotions during your exit. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.
Sweetening the Deal
Today's fireplaces and accessories retail business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young fireplaces and accessories retail business owner, they can be critical launching points for their ownership journey.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the fireplaces and accessories retail business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling fireplaces and accessories retail businesses.
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