Niche Exit Planning Tactics
Selling a Wigs and Hairpieces Retail Business
The decision to sell your wigs and hairpieces retail 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.
These days, the small and medium-sized business market is more confusing than ever before. Although there are plenty of entrepreneurs who want to buy a wigs and hairpieces retail business, capital restrictions are holding them back.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a wigs and hairpieces retail business.
When to End Negotiations
If the devil is in the details, the negotiation stage of a wigs and hairpieces retail business sale is the devil's playground. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your wigs and hairpieces retail business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the wigs and hairpieces retail business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Share this article
Additional Resources for Entrepreneurs