Sell a Company Niche Market Guides
Selling a Leather Goods Wholesale and Manufacturers Equipment and Supplies Business
There's a right way and a wrong way to sell a leather goods wholesale and manufacturers equipment and supplies business these days. We'll tell you how to keep your sale and your future plans on track.
In a down economy, many leather goods wholesale and manufacturers equipment and supplies business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of leather goods wholesale and manufacturers equipment and supplies businesses that are actually for sale.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a leather goods wholesale and manufacturers equipment and supplies business sale. You just need to know your buyers and structure the deal accordingly.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. 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. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your leather goods wholesale and manufacturers equipment and supplies business. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your leather goods wholesale and manufacturers equipment and supplies business now, but that doesn't make the emotions you will experience any easier. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.
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