Business Exit Planning
Selling a Mattress Renovating Business
Your mattress renovating business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
Personal and professional concerns surround the sale of a mattress renovating business. In our experience, a common owner concern is how the sale will affect customers and employees.
Armed with a deliberate selling strategy, sellers of mattress renovating businesses are finding qualified buyers, even in today's tough market.
Laying the Groundwork
A successful mattress renovating business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium mattress renovating business opportunity.
When to End Negotiations
Negotiations have a way of dragging on forever. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the mattress renovating business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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