Advice on Niche Market Exit Planning
Selling a Textiles Wholesale and Manufacturers Business
You've heard the naysayers - now isn't the time to sell a textiles wholesale and manufacturers business. But what they don't know is that many entrepreneurs see textiles wholesale and manufacturers businesses as a smart business investment.
Dire economic forecasts have forced many textiles wholesale and manufacturers business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Qualified buyers are constantly looking for attractive textiles wholesale and manufacturers businesses. 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.
Working with Appraisers
Next to your broker, a skilled appraiser is the person most capable of adding value to the price of your textiles wholesale and manufacturers business. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood textiles wholesale and manufacturers business sellers with questions and requests, often to the point of becoming a nuisance. The questions textiles wholesale and manufacturers business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
Selling Time
Hoping for a quick textiles wholesale and manufacturers business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. On average, it takes a minimum of six months to prepare a textiles wholesale and manufacturers business for sale and many sellers spend a year or more positioning their business to command a higher price. 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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