Sell a Business for the Best Price
Selling a Pottery Wholesale and Manufacturers Business
Most businesses are susceptible to economic conditions and pottery wholesale and manufacturers 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.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Does that mean selling your pottery wholesale and manufacturers business will be a piece of cake? No -- but you might be surprised to learn that the pottery wholesale and manufacturers businesses that are selling these days are finding success though simple, common sense selling strategies.
Preparing Family Members
Many sellers embarked on their pottery wholesale and manufacturers business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. Subsequently, selling a pottery wholesale and manufacturers business has to include ample communication and shared decision-making.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Leveraging External Resources
Rarely, if ever, do owners sell a pottery wholesale and manufacturers business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Share this article
Additional Resources for Entrepreneurs