Exit Planning Tips
Selling a Home and Office Tanning Salons' Equipment and Supplies Business
It's a misconception that no one is buying home and office tanning salons' equipment and supplies businesses these days. Savvy entrepreneurs see home and office tanning salons' equipment and supplies business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
You're optimistic about the economy and so are we. Now the challenge is to convert business buyers who may have a more skeptical outlook.
If you're ready to move on, now is the right time to sell your home and office tanning salons' equipment and supplies business.
Moving On
What will happen if your home and office tanning salons' equipment and supplies business is a success? Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your home and office tanning salons' equipment and supplies business. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Sweetening the Deal
Today's home and office tanning salons' equipment and supplies business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. A limited amount of training and mentoring may seem inconsequential to you, but to a young home and office tanning salons' equipment and supplies business owner, they can be critical launching points for their ownership journey.
After the Sale
As your home and office tanning salons' equipment and supplies businesssale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
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