Business Exit Planning
Selling a Men's Shoes Business
Selling a men's shoes business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
The men's shoes business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a men's shoes business.
Dealing with Your Emotions
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. Be prepared to experience everything from elation to remorse during the sale of your business. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your men's shoes business. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your men's shoes business until the prospect has been qualified as a serious buyer.
Broker vs. No Broker
When selling a men's shoes business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. 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 men's shoes business much less painful. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your men's shoes business on BizBuySell.com and other popular online business-for-sale listing sites.
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