Mastering Niche Market Exit Planning
Selling a Name Plates and Tags Business
The decision to sell your name plates and tags business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Armed with a deliberate selling strategy, sellers of name plates and tags businesses are finding qualified buyers, even in today's tough market.
Advertising Your Sale
Successful name plates and tags business sales listings are intentionally promoted to the right prospects. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. There are multiple ways to promote a name plates and tags business sale, many of which require the assistance of a professional business broker.
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. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. If you aren't familiar with typical name plates and tags business concessions, consult with a professional to learn how you can build incentives into your deal.
Legal Concerns
We run into a lot of name plates and tags business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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