Niche Exit Planning Tactics
Selling a Wedding Centerpieces Business
Owning a wedding centerpieces business hasn't always been a bed of roses, but it's been worth the effort. Now the trick is to convince cautious buyers that your operation is worth the asking price.
When the economy recovers, we expect to see a sudden influx of wedding centerpieces 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.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a wedding centerpieces business.
Signs You're in Over Your Head
Many wedding centerpieces business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other wedding centerpieces businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Emotional Considerations
The sale of a wedding centerpieces business can be a rollercoaster of emotions. One minute you'll be elated at the possibility of moving on the next stage of your life and the next minute you'll be nostalgic about the memories of your time at the helm of your business. Many sellers experience discouragement during a long sale process. Although it isn't easy, you can mitigate the emotional impact of a wedding centerpieces business sale by setting realistic expectations before you list your business.
Finding Wedding Centerpieces Business Buyers
It's difficult to predict where the buyer of your wedding centerpieces business will come from. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
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