Sell a Business for the Best Price
Selling a Party Decorating Services Business
Most businesses are susceptible to economic conditions and party decorating services businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
Cutting corners never pays off, especially in the sale of a party decorating services business.
Undaunted by economic conditions, many party decorating services business sellers are achieving their sale goals through deliberate sale strategies.
Dealing with Tire Kickers
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 party decorating services business. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your party decorating services business during their initial inquires. Avoid releasing details about your party decorating services business until you have established that they have the financial capacity to make a legitimate offer.
When the Sale Goes Off-Course
Many party decorating services business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Whether you realize it or not, your party decorating services business has been an important part of your family life. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a party decorating services business has to include ample communication and shared decision-making.
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