Sell a Business Tips
Selling a Skate Shop
You've learned a lot during your tenure as a skate shop owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
The economy isn't the only thing that is uncertain these days. So are skate shop buyers, many of whom are waiting to pull the trigger on their next acquisition.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a skate shop.
Economic Considerations
When you sell a skate shop, there are a number of variables you need to consider. A combination of economic conditions and market sentiment can complicate your sale. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. One thing is for sure - buyers are paying more attention to your company's profitability and growth potential than they are to the latest quarterly economic indicators.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. It's completely normal for skate shop sellers to be asked pointed questions during due diligence. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Tapping Into Business Networks
Today's skate shop buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
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