Smart Exit Planning Strategies for Niche Markets
Selling a Greeting and Announcement Services Business
A lot can go wrong during the sale of a greeting and announcement services business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your greeting and announcement services business can be sold at or above fair market value right now.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your greeting and announcement services business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Professional Appraisals
Next to your broker, a skilled appraiser is the person most capable of adding value to the price of your greeting and announcement services business. 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.
Why Confidentiality Matters
Highly publicized greeting and announcement services business sales are risky greeting and announcement services businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. But if word leaks out to the wrong people, your competitors can use that information to steal business and damage your credibility. Maintaining confidentiality isn't easy, but without it you won't get top dollar for your business. In a worse case scenario, a profitable greeting and announcement services business can be reduced to one that is struggling to survive. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.
Share this article
Additional Resources for Entrepreneurs