Niche Exit Planning Tactics
Selling a Wedding Tents Business
A good business is about more than dollars and sense. To make your wedding tents business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Many business owners don't know that wedding tents businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Current Market Conditions
No one plans to sell a wedding tents business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. Like it or not, the time to sell your wedding tents business may be right now, as long as your willing to adequately prepare your business for the marketplace.
Tips for Seller Financing
The shortage in today's marketplace isn't interested buyers -- it's capital. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy wedding tents businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Share this article
Additional Resources for Entrepreneurs