Business Exits By Industry
Selling a Clothing and Accessories Consignment and Resale Business
Forget about what you read in the paper -- clothing and accessories consignment and resale businesses are being sold everyday and the business-for-sale market is poised for even greater growth in the months ahead.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a clothing and accessories consignment and resale business sale works.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a clothing and accessories consignment and resale business sale. To improve sale outcomes, you will simply need to tailor your clothing and accessories consignment and resale business to today's buyers.
Workforce Concerns
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful clothing and accessories consignment and resale business sale. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the clothing and accessories consignment and resale business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
When Is the Right Time to Sell?
When is it the right time to sell your clothing and accessories consignment and resale business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling clothing and accessories consignment and resale business sellers to put their plans on hold until the economy fully rebounds. But despite the negativity that exists in some sectors, if you have a desire to sell your clothing and accessories consignment and resale business now, there is a high probability that you can sell it in the current market. 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.
Leveraging Industry Connections
These days, clothing and accessories consignment and resale business buyers are an extremely diverse group with backgrounds in and outside of the industry. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
Share this article
Additional Resources for Entrepreneurs