Exit Planning Advice By Market
Selling an Athletic and Dance Shoes Retailer
A good business is about more than dollars and sense. To make your athletic and dance shoes retailer what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an athletic and dance shoes retailer sale works.
Sell gym shoes for a living? Why not! We cover a few things to consider before starting an athletic shoe store.
Undaunted by economic conditions, many athletic and dance shoes retailer sellers are achieving their sale goals through deliberate sale strategies.
Average Preparation Time
It's critical to properly plan for the sale ofan athletic and dance shoes retailer. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. At a minimum, plan on spending six months preparing your athletic and dance shoes retailer for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Finding Athletic & Dance Shoes Retailer Buyers
Buyers of athletic and dance shoes retailers run the gamut. Some are seasoned athletic and dance shoes retailer veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. Avoid pigeon-holing your search to a single buyer category. That means listing your athletic and dance shoes retailer in trade-specific directories as well as general business-for-sale databases. Networking is another useful tool in locating buyers. It might surprise you to learn how many athletic and dance shoes retailer buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
Post-Sale Details
As your athletic and dance shoes retailersale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. You, your employees and the buyer all have a stake in making sure the sale ends as smoothly as possible. If possible, work with the buyer to create a transition strategy that minimizes the impact on the business and your workforce.
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