How to Sell a Niche Market Business
Selling an Ear Piercing Equipment and Supplies Business
We hear it all the time: 'This economy is a hostile environment for a business sale.' However, ear piercing equipment and supplies businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Selling an ear piercing equipment and supplies business isn't as simple as listing a power tool on eBay. These days, the business-for-sale market is a hostile place for inexperienced and uninformed sellers.
You'll always have an excuse for not putting your business on the market. Selling a ear piercing equipment and supplies business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your ear piercing equipment and supplies business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Preparing for What's Next
The decision to sell your ear piercing equipment and supplies business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
Closing Strategies
Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young ear piercing equipment and supplies business owner, they can be critical launching points for their ownership journey.
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