Exit Planning Techniques By Market
Selling a Floral Arrangements Business
We hear it all the time: 'This economy is a hostile environment for a business sale.' However, floral arrangements businesses haven't heard the news and are reporting steady action on the business-for-sale market.
A business exit is always a trying experience. But when you need to sell your floral arrangements business in a depressed economy, the challenges can seem insurmountable.
The economy hasn't squashed the market for floral arrangements 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.
What to Expect in a Floral Arrangements Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your floral arrangements business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a floral arrangements business sale by setting realistic expectations before you list your business.
Working with Appraisers
An experienced appraiser is part and parcel of a successful floral arrangements business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
How to Skillfully Address Buyer Concerns
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions floral arrangements business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
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