Advice on Niche Market Exit Planning
Selling a Textile Mills Business
Despite the pessimistic mood of many sellers, your textile mills business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
These days, the small and medium-sized business market is more confusing than ever before. There are lots of buyers who want to own a textile mills business, but have limited capital to get their foot in the door.
Most textile mills businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Leveraging External Resources
Rarely, if ever, do owners sell a textile mills business without outside assistance. Although it's wise to recruit a business broker, brokerage isn't your only concern. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Laying the Groundwork
Effective textile mills business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a textile mills business to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your textile mills business on the market.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. 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.
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