Smart Exit Planning Strategies for Niche Markets
Selling a Gun Cases Business
You've learned a lot during your tenure as a gun cases business owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.
Most entrepreneurs have the skills and stamina to endure and prosper during the sale ofa gun cases business.
Nothing lasts forever and you will ultimately be faced with the task of selling your company. And when that day arrives, you need to know how to sell your gun cases business in a way that achieves positive outcomes for you and the business.
Selling Time
Hoping for a quick gun cases business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your gun cases business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Tapping Into Business Networks
There are a lot of different places to look for gun cases business buyers. Online business-for-sale databases like BizBuySell.com offer convenient resources for sellers interested in promoting their business to a broad prospect base. More focused prospects are typically found within industry networks. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.
Leveraging Seller Concessions
It's becoming more difficult to sell a gun cases business without considering seller concessions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
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