Advice on Niche Market Exit Planning
Selling a Table Cloths Business
We hear it all the time: 'This economy is a hostile environment for a business sale.' However, table cloths businesses continue to sell at a brisk pace, regardless of the economy.
When the economy recovers, we expect to see a sudden influx of table cloths businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
In order to market a table cloths business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Finding Table Cloths Business Buyers
It's difficult to predict where the buyer of your table cloths business will come from. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Networking is another useful tool in locating buyers. It might surprise you to learn how many table cloths business buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
Signs You're in Over Your Head
Many table cloths business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Selling Time
Hoping for a quick table cloths business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
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