Niche Exit Planning Tactics
Selling a Wedding Invitation Printing Business
Don't believe anyone who tells you it's easy to sell a wedding invitation printing business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
A business exit is always a trying experience. But when you need to sell your wedding invitation printing business in a depressed economy, the challenges can seem insurmountable.
They require careful planning and an intentional strategy that emphasizes your wedding invitation printing business's strengths and meets the needs of the marketplace. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the wedding invitation printing business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling wedding invitation printing businesses.
Average Preparation Time
Preparing a wedding invitation printing business sale takes time. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a wedding invitation printing business can rarely be ready for the marketplace in less than six months. However, to command the highest price, you'll probably need to spend one to two years preparing and positioning your business for buyers.
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.
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