Sell a Business for the Best Price
Selling a Party Supplies Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your party supplies business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
If your exit strategy involves selling a party supplies business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Buyer Identification
Buyers of party supplies businesses run the gamut. Some are seasoned party supplies business veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. So you'll need to take a diverse approach to identifying prospective buyers. That means listing your party supplies business in trade-specific directories as well as general business-for-sale databases. Networking is another useful tool in locating buyers. It might surprise you to learn how many party supplies business buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
Selecting a Broker
Good business brokers inevitably produce better business sales. No two party supplies business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
Average Timeframes
Hoping for a quick party supplies business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. On average, it takes a minimum of six months to prepare a party supplies business for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
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