Niche Exit Planning Tactics
Selling a Work Gloves Retail Business
Many business leaders say that now isn't the time to try to sell a work gloves retail business. But in reality, now may be the perfect time to sell a work gloves retail business.
The buzz in the marketplace is that now isn't the right time to sell a work gloves retail business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to work gloves retail businesses that exhibit strong financials and potential for future growth.
When Is the Right Time to Sell?
When is it the right time to sell your work gloves retail business? If you're asking the question, now may be the time to put your business on the market. There are a lot of naysayers out there advising work gloves retail business sellers (or would-be sellers) to take a wait and see approach. But despite the negativity that exists in some sectors, if you have a desire to sell your work gloves retail business now, there is a high probability that you can sell it in the current market. With fewer work gloves retail businesses on the market, there are ample opportunities for sellers to capture the attention of qualified buyers.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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