Sell a Business Tips
Selling a Scrapbooks, Supplies, Service, and Instruction Business
Most businesses are susceptible to economic conditions and scrapbooks, supplies, service, and instruction 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.
When the economy recovers, we expect to see a sudden influx of scrapbooks, supplies, service, and instruction businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
Undaunted by economic conditions, many scrapbooks, supplies, service, and instruction business sellers are achieving their sale goals through deliberate sale strategies.
After the Sale
As your scrapbooks, supplies, service, and instruction businesssale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? You, your employees and the buyer all have a stake in making sure the sale ends as smoothly as possible. If possible, work with the buyer to create a transition strategy that minimizes the impact on the business and your workforce.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Selling Time
It's rarely possible to sell a scrapbooks, supplies, service, and instruction business in a month or two. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a scrapbooks, supplies, service, and instruction business for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Share this article
Additional Resources for Entrepreneurs