Optimizing Business Exits
Selling a Rhinestones Retail Business
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a rhinestones retail business sale isn't as scary as it seems.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a rhinestones retail business.
The business-for-sale market is extremely dynamic. That's why we think it's important for rhinestones retail business owners to know that it's possible to sell a business in any economy. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Equipment and Inventory Concerns
During due diligence, the buyer will undoubtedly conduct his own appraisal of your rhinestones retail business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. A pre-listing appraisal also gives you the opportunity to document the condition of your rhinestones retail business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a rhinestones retail business 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. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. Although some rhinestones retail business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. 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.
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