Niche Exit Planning Tactics
Selling a Wedding Equipment and Supplies Business
Think wedding equipment and supplies 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.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a wedding equipment and supplies business sale works.
More than a few wedding equipment and supplies 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.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Average Timeframes
It's rarely possible to sell a wedding equipment and supplies business in a month or two. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your wedding equipment and supplies business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
The Best Person to Sell Your Wedding Equipment & Supplies Business
An unassisted business sale is a double-edged sword. Few people know your business as well as you do. The problem is that your passion for your business can also sabotage your sale. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the wedding equipment and supplies business to gain an objective sense of fair market value.
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