Smart Exit Planning Strategies for Niche Markets
Selling a Gift Plans Business
Market perceptions play a role in your ability to sell a gift plans business. Yet great values are always received well in the business-for-sale marketplace. Now all you have to do is convince the right buyer that your business is built for long-term success.
The economy isn't the only thing that is uncertain these days. So are gift plans business buyers, many of whom are waiting to pull the trigger on their next acquisition.
For sellers who are willing to perform adequate sale preparation, the numbers make gift plans businesses a solid investment for qualified buyers in the business-for-sale marketplace.
Maximizing Sales Price
There are no simple ways to sell a gift plans business. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. Time after time, sellers who hire qualified brokers are more satisfied with the sales process - and the price they receive for their gift plans businesses.
Preparing Family Members
Many sellers embarked on their gift plans business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a gift plans business has to include ample communication and shared decision-making.
Tips for Seller Financing
The shortage in today's marketplace isn't interested buyers -- it's capital. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized gift plans business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
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