Tips to Improve Exit Planning
Selling a Jewish Goods Business
The sale of your Jewish goods business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the Jewish goods business market and locate potential buyers ASAP.
Advantages of Hiring a Broker
There are many reasons why hiring a broker makes sense in Jewish goods business sales. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. Second, a good business broker is a master at confidentiality locating Jewish goods business sale prospects and guiding sellers through negotiations. Although you will pay a fee for brokerage, it's generally worth it because the end result will be a higher sales prices and more favorable terms.
Equipment and Inventory Concerns
Buyers typically perform an independent appraisal of your Jewish goods business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. A pre-listing appraisal also gives you the opportunity to document the condition of your Jewish goods business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Preparing for What's Next
The decision to sell your Jewish goods business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your Jewish goods business attractive to buyers.
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