Sell a Company Niche Market Guides
Selling a Lighting Fixtures Retail Business
You've heard the naysayers - now isn't the time to sell a lighting fixtures retail business. But what they don't know is that many entrepreneurs see lighting fixtures retail businesses as a smart business investment.
Dire economic forecasts have forced many lighting fixtures retail business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Many business owners don't know that lighting fixtures retail businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Realistic Expectations
For most owners, the hardest part of selling a lighting fixtures retail business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful lighting fixtures retail business sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Closing Strategies
Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young lighting fixtures retail business owner, they can be critical launching points for their ownership journey.
Post-Sale Details
As your lighting fixtures retail businesssale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. 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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