Advice on Niche Market Exit Planning
Selling a TV Retailer
We hear from a lot of business owners who are timid about listing their TV retailer. Despite the mood of the market, we think there are still opportunities to receive a good price for your TV retailer. Here's what you need to know . . .
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
The economy hasn't squashed the market for TV retailers. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the TV retailer industry, experience is a must-have characteristic for qualified brokerage. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
Family Business Sale Tips
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based TV retailer sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Promoting a TV retailer Sale
The best TV retailer sales incorporate comprehensive advertising plans. But if you think advertising your TV retailer will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing TV retailer sales while maintaining the confidentiality that is critical to your business.
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