Exit Planning Tips
Selling a Handbags Repair Business
Maybe you're counting on your handbags repair business to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
A business exit is always a trying experience. But when you need to sell your handbags repair business in a depressed economy, the challenges can seem insurmountable.
If you're ready to move on, now is the right time to sell your handbags repair business.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Maximizing Sales Price
There are no simple ways to sell a handbags repair 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. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their handbags repair businesses.
Why Confidentiality Matters
In the business-for-sale universe, publicity translates into risk. 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. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. If confidentiality is important to you (and it should be), your best bet is to consult with a professional business broker about maintaining a confidential handbags repair business sale.
Share this article
Additional Resources for Entrepreneurs