Niche Exit Planning Tactics
Selling a Wedding Invitations and Announcements Business
You've learned a lot during your tenure as a wedding invitations and announcements business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
A business exit is always a trying experience. But when you need to sell your wedding invitations and announcements business in a depressed economy, the challenges can seem insurmountable.
If your exit strategy involves selling a wedding invitations and announcements business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Seller Financing
Capital is hard to come by these days. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy wedding invitations and announcements businesses. As a result, buyers expect sellers to finance a significant portion of the sale. As you prepare for the sale of your wedding invitations and announcements business, expect to be asked to finance a substantial part of the sale price.
Preparing for What's Next
The decision to sell your wedding invitations and announcements business can't be made without adequate consideration of what will happen after the sale. Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your wedding invitations and announcements business. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Tapping Into Business Networks
Today's wedding invitations and announcements business buyers can be found in a variety of locations. Online business-for-sale databases like BizBuySell.com offer convenient resources for sellers interested in promoting their business to a broad prospect base. For more targeted lead generation, consider tapping into your network of industry contacts. Time and time again, successful wedding invitations and announcements business sales emerge from relationships within the industry. The challenge is to leverage industry connections while keeping knowledge of the sale hidden from your competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Share this article
Additional Resources for Entrepreneurs