Sell a Business Tips
Selling a Silks Retail Business
We hear from a lot of business owners who are timid about listing their silks retail business. Despite the mood of the market, we think there are still opportunities to receive a good price for your silks retail business. Here's what you need to know . . .
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
At Gaebler, we're seeing silks retail business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
Finding Silks Retail Business Buyers
It's difficult to predict where the buyer of your silks retail 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.
Post-Sale Details
As your silks retail businesssale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
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