Niche Exit Planning Tactics
Selling a Wall Decor Business
There's a right way and a wrong way to sell a wall decor business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Market timing is a perennial problem for business sellers.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to wall decor businesses that exhibit strong financials and potential for future growth.
Buyer Concessions
Most wall decor business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Legal Concerns
In a wall decor business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Average Timeframes
Hoping for a quick wall decor 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. On average, it takes a minimum of six months to prepare a wall decor business for sale and many sellers spend a year or more positioning their business to command a higher price. In a good market, an attractive wall decor business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
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