Exit Planning Techniques By Market
Selling a Flowers, Florists and Flower Shops Business
You've heard the naysayers - now isn't the time to sell a flower shop. But what they don't know is that many entrepreneurs see flower shops as a smart business investment.
The economy isn't the only thing that is uncertain these days. So are flower shop buyers, many of whom are waiting to pull the trigger on their next acquisition.
There is no simple way to sell a business. But the most prepared flower shop sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
After the Sale
As your flower shopsale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
Average Timeframes
Hoping for a quick flower shop sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your flower shop, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Sweetening the Deal
Today's flower shop 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 flower shop owner, they can be critical launching points for their ownership journey.
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