Niche Exit Planning Tactics
Selling a Water Coolers Retail Business
Think water coolers retail business sales have dwindled to a standstill? Think again. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
When the economy recovers, we expect to see a sudden influx of water coolers retail businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
Too often water coolers retail business sellers fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your water coolers retail business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
The Case for Confidentiality
Highly publicized water coolers retail business sales are risky water coolers retail businesssales. If you are rigorous about maintaining a confidential sale, there is little risk in putting your water coolers retail business on the market. But if word leaks out to the wrong people, your competitors can use that information to steal business and damage your credibility. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.
Pre-Sale Checklist
The pre-sale checklist for a water coolers retail business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
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