Tips to Improve Exit Planning
Selling a Jade and Jade Goods Business
It's a misconception that no one is buying jade and jade goods businesses these days. Savvy entrepreneurs see jade and jade goods business opportunities as a path to short-term profits and long-term growth. Although final sales prices vary, the best sales combine strategy and hard work to achieve desired outcomes.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Selling a Jade & Jade Goods Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. Since the worker already knows the ins and outs of the business, due diligence should be a breeze, not to mention the fact that you won't have to wait months or years for the right buyer to emerge on the open marketplace. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your jade and jade goods business, a sale to an employee is probably not a possibility.
When Is the Right Time to Sell?
When is it the right time to sell your jade and jade goods business? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising jade and jade goods business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the jade and jade goods business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Selecting a Broker
Good business brokers inevitably produce better business sales. During the selection process, look for brokers with a proven track record of successful jade and jade goods business sales. Take our word for it -- jade and jade goods businesses are unique businesses and you need a broker who understands how to properly market your jade and jade goods business to prospective buyers. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling jade and jade goods businesses.
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