Optimizing Business Exits
Selling a Razors and Razor Blades Business
Is the economy still a little shaky for a business sale? Sure it is. Yet razors and razor blades businesses haven't heard the news and are reporting steady action on the business-for-sale market.
You won't find any magic formulas for selling a razors and razor blades business, especially while the market is struggling to overcome the perceptions created by a down economy.
In today's market, there is still plenty of room for razors and razor blades businesses that demonstrate solid earning capacity and a robust market position.
Buyer Identification
It's difficult to predict where the buyer of your razors and razor blades business will come from. So you'll need to take a diverse approach to identifying prospective buyers. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Finding Prospects
Whether you know it or not, prospective buyers for your razors and razor blades business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Leveraging External Resources
Rarely, if ever, do owners sell a razors and razor blades business without outside assistance. The enlistment of a qualified business broker is an excellent first step. 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.
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