Sell a Business Tips
Selling a Square Dance Clothing Business
Your square dance clothing business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
Selling a square dance clothing business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Most square dance clothing businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Advantages of Hiring a Broker
Brokers give square dance clothing business sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Laying the Groundwork
Effective square dance clothing business preparation focuses on communicating value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium square dance clothing business opportunity.
Selling a Square Dance Clothing Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your square dance clothing business, a sale to an employee is probably not a possibility.
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