Exit Planning Tips
Selling a Home Decorating Supplies and Accessories Business
With the economy limping along, many home decorating supplies and accessories business owners are hesitant to put their businesses on the market. But in reality, now may be the perfect time to sell a home decorating supplies and accessories business.
These days, the small and medium-sized business market is more confusing than ever before. There are lots of buyers who want to own a home decorating supplies and accessories business, but have limited capital to get their foot in the door.
However, serious buyers also understand the value of a good home decorating supplies and accessories business. So for home decorating supplies and accessories business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your home decorating supplies and accessories business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a home decorating supplies and accessories business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Preparing Your Employees
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. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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