Exit Planning Advice By Market
Selling an Artificial Nails and Eyelashes Business
A good business is about more than dollars and sense. To make your artificial nails and eyelashes business what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
They require careful planning and an intentional strategy that emphasizes your artificial nails and eyelashes business's strengths and meets the needs of the marketplace. But for business sellers, the process begins with having the right mental attitude.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions artificial nails and eyelashes business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
When Is the Right Time to Sell?
When is it the right time to sell your artificial nails and eyelashes business? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising artificial nails and eyelashes business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the artificial nails and eyelashes business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell an artificial nails and eyelashes business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
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