Exit Planning Advice
Selling a Knit Fabrics Retail Business
It's a misconception that no one is buying knit fabrics retail businesses these days. Savvy entrepreneurs see knit fabrics retail 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.
The economy isn't the only thing that is uncertain these days. So are knit fabrics retail business buyers, many of whom are waiting to pull the trigger on their next acquisition.
The economy hasn't squashed the market for knit fabrics retail businesses. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
Should I Hire a Business Broker?
The decision of whether or not to hire a business broker should never be taken lightly. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your knit fabrics retail business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Good business brokers are adept at separating serious buyers from the rest of the pack. It's likely that non-serious buyers will want to know everything about your knit fabrics retail business during their initial inquires. Avoid releasing details about your knit fabrics retail business until you have established that they have the financial capacity to make a legitimate offer.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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