Advice on Niche Market Exit Planning
Selling a Trailer Hitches Retail Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet trailer hitches retail businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
With planning and patience, most trailer hitches retail businesses can be sold for a fair price in the current business-for-sale marketplace.
You'll always have an excuse for not putting your business on the market. Selling a trailer hitches retail business isn't easy, but we believe sellers can achieve their goals in any economic environment.
When to End Negotiations
Negotiations have a way of dragging on forever. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. In a trailer hitches retail business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Should I Hire a Business Broker?
Anyone who has ever sold a trailer hitches retail business has eventually needed to decide whether to use a business broker or go it alone. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your trailer hitches retail business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. Although some trailer hitches retail business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
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