Niche Exit Planning Tactics
Selling a Wholesale and Manufacturers Art Goods Business
Maybe you're counting on your wholesale and manufacturers art goods business to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
You're optimistic about the economy and so are we. Now the challenge is to convert business buyers who may have a more skeptical outlook.
To achieve your goals, you'll need to know the market as well as key business selling techniques. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Advertising Your Sale
Profitable wholesale and manufacturers art goods business sales incorporate comprehensive advertising plans. But if you think advertising your wholesale and manufacturers art goods business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. The best way to advertise a wholesale and manufacturers art goods business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. Before your wholesale and manufacturers art goods business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your wholesale and manufacturers art goods business's inventory, equipment, and physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your wholesale and manufacturers art goods business.
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