Sell a Business Tips
Selling a Surfboards and Surfwear Retail Business
Maybe you're counting on your surfboards and surfwear retail business to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
Selling a surfboards and surfwear retail business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
If you're ready to move on, now is the right time to sell your surfboards and surfwear retail business.
Average Preparation Time
Preparing a surfboards and surfwear retail business sale takes time. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey surfboards and surfwear retail business operation. Since all of this takes time and effort, a surfboards and surfwear retail business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Tips for Working with A Business Broker
Business brokers are professional business sellers. It's typical for surfboards and surfwear retail business to rely on brokers to reduce market time and increase the final sales price. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your surfboards and surfwear retail business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your surfboards and surfwear retail business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. By enlisting the assistance of a negotiation team (senior leaders, experienced negotiators, etc.), you can improve the quality of your negotiation strategy and position yourself to receive top dollar for your surfboards and surfwear retail business.
Share this article
Additional Resources for Entrepreneurs