Sell a Business Tips
Selling a Shoe Store
In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your shoe store.
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 shoe store.
There is no simple way to sell a business. But the most prepared shoe store sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Signs You're in Over Your Head
The shoe store-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. Hire a broker and conduct a professional appraisal ASAP.
Preparing for What's Next
The decision to sell your shoe store can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Negotiation Exit Strategy
If the devil is in the details, the negotiation stage of a shoe store sale is the devil's playground. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a shoe store sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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