Business Exits By Industry
Selling a Chemists Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the chemists business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a chemists business during challenging economic times.
These days, the small and medium-sized business market is more confusing than ever before. There are lots of buyers who want to own a chemists business, but have limited capital to get their foot in the door.
To sell a chemists business now, business sellers may need to apply a combination of incentives and techniques.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. It's completely normal for chemists business sellers to be asked pointed questions during due diligence. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Sale Costs
In a chemists business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a chemists business sale. If you need to compensate employees to assist with the sale, their services should also be considered.
Preparing for What's Next
What will happen if your chemists business is a success? If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your chemists business attractive to buyers.
Share this article
Additional Resources for Entrepreneurs