Exit Planning Tips
Selling a Hats and Caps Wholesale and Manufacturers Business
The decision to sell your hats and caps wholesale and manufacturers business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
When it comes to selling a hats and caps wholesale and manufacturers business, there are no shortcuts to success.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a hats and caps wholesale and manufacturers business.
Timing the Market
Now may be the best time to sell a hats and caps wholesale and manufacturers business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on hats and caps wholesale and manufacturers businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Workforce Concerns
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. The more people who know that the business is on the market, the riskier the sale becomes. 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 hats and caps wholesale and manufacturers 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.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.
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