Niche Exit Planning Tactics
Selling a Watches Service and Repair Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet watches service and repair businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
The buzz in the marketplace is that now isn't the right time to sell a watches service and repair business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
Although it takes hard work and dedication, if it's time to exit your watches service and repair business there is a good chance you can sell it for a good price -- even in today's market.
Team-Based Negotiation Strategies
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your watches service and repair business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
What to Expect in a Watches Service & Repair Business Sale
Prepare yourself to feel a broad range of emotions when you sell a watches service and repair business. From hopefulness to remorse, it's all part of exiting of your company. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a watches service and repair business sale by setting realistic expectations before you list your business.
Are You the Right Person to Sell Your Business?
There are benefits and drawbacks to handling the sale of your watches service and repair business on your own. Few people know your business as well as you do. But your knowledge and personal insights about the watches service and repair business are also the problem. Nearly all sellers have an inflated sense of their company's value. Business brokers and other third-party consultants bring objectivity to the sale process and give you much-needed insight about buyers' mindsets.
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