Optimizing Business Exits
Selling a Pillows Retail Business
A good business is about more than dollars and sense. To make your pillow store what it is today, you've had to fully invest yourself in its success. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
We're seeing a high volume of shadow inventory in the business-for-sale market.
Eventually, it will the time will come to exit your business. And when that day arrives, you need to know how to sell your pillow store in a way that achieves positive outcomes for you and the business.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a pillow store sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. 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. If you aren't sure what to look for in a serious buyer, ask your broker for advice. It's likely that non-serious buyers will want to know everything about your pillow store during their initial inquires. Avoid releasing details about your pillow store until you have established that they have the financial capacity to make a legitimate offer.
Moving On
The decision to sell your pillow store can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
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