How to Sell a Niche Market Business
Selling an Exotic Body Art Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet exotic body art businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
If you plan on selling your exotic body art business quickly, prepare to be disappointed.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a exotic body art business.
Preparing for What's Next
What will happen if your exotic body art business is a success? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Family Business Sale Tips
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based exotic body art business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
The Best Person to Sell Your Exotic Body Art Business
As the owner, you are both the best and worst person to sell your exotic body art business. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. You see your company's potential. But buyers don't pay for potential - they pay for current market value. At a minimum, conduct an independent appraisal of the exotic body art business to gain an objective sense of fair market value.
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