Niche Exit Planning Tactics
Selling a Wholesale Upholstery Fabric Business
The decision to sell your wholesale upholstery fabric business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Personal and professional concerns surround the sale of a wholesale upholstery fabric business. In our experience, a common owner concern is how the sale will affect customers and employees.
Undaunted by economic conditions, many wholesale upholstery fabric business sellers are achieving their sale goals through deliberate sale strategies.
Post-Sale Details
As your wholesale upholstery fabric businesssale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
Timing the Market
Timing is everything when it comes to selling a wholesale upholstery fabric business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on wholesale upholstery fabric businesses. Sooner or later, rates will rise, increasing the risk for prospective buyers of wholesale upholstery fabric businesses. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
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