Exit Planning Techniques By Market
Selling a Fur Clothing Rental Business
You've heard the naysayers - now isn't the time to sell a fur clothing rental business. But what they don't know is that many entrepreneurs see fur clothing rental businesses as a smart business investment.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
You'll always have an excuse for not putting your business on the market. Selling a fur clothing rental business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Preparing Your Employees
Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the fur clothing rental business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Adjusting Expectations
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. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your fur clothing rental business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Before You Sell
The pre-sale checklist for a fur clothing rental business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Share this article
Additional Resources for Entrepreneurs