Exit Planning Advice By Market
Selling an Aromatherapy Products and Services Business
Looking for shortcuts? You won't find them when you sell an aromatherapy products and services business. In this industry, a business sale takes time, effort and dedication. We'll tell you how to thrive in the middle of it and get top dollar for your company.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact aromatherapy products and services business sales nearly as much as sale strategy.
If you're ready to move on, now is the right time to sell your aromatherapy products and services business.
Current Market Conditions
No one plans to sell an aromatherapy products and services 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. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell an aromatherapy products and services business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your aromatherapy products and services business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the aromatherapy products and services business on the market. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
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