Exit Planning Strategies
Selling a Vinyl Flooring Retail Business
Is the economy still a little shaky for a business sale? Sure it is. Yet vinyl flooring retail businesses haven't heard the news and are reporting steady action on the business-for-sale market.
We're seeing a high volume of shadow inventory in the business-for-sale market.
There is no simple way to sell a business. But the most prepared vinyl flooring retail business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
After the Sale
The way you exit your vinyl flooring retail business is just as important as the way you sell it. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. You, your employees and the buyer all have a stake in making sure the sale ends as smoothly as possible. If possible, work with the buyer to create a transition strategy that minimizes the impact on the business and your workforce.
When to End Negotiations
If the devil is in the details, the negotiation stage of a vinyl flooring retail business sale is the devil's playground. Yet eventually many negotiations reach a stage where further discussion is pointless. In a vinyl flooring retail business sale, a stalled negotiation can be an indication that the deal is dead. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.
Maintaining Objectivity
Emotions run high during the sale of a vinyl flooring retail business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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