Optimizing Business Exits
Selling a Running and Jogging 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 running and jogging supplies business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a running and jogging supplies business, capital restrictions are holding them back.
But the good news is that there is still demand for running and jogging supplies businesses that present well and offer solid earning potential.
Legal Concerns
In a running and jogging supplies business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Seller Concessions
It's becoming more difficult to sell a running and jogging supplies business without considering seller concessions. Not surprisingly, seller financing is routinely requested by today's buyers. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. 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. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
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