Business Exits By Industry
Selling a Collectible Gifts Business
The decision to sell your collectible gifts business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
You won't find any magic formulas for selling a collectible gifts business, especially while the market is struggling to overcome the perceptions created by a down economy.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a collectible gifts business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Current Market Conditions
Today's collectible gifts business sellers face an intimidating economic landscape. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your collectible gifts business as attractive as possible so to buyers right now.
Negotiation Exit Strategy
Negotiations have a way of dragging on forever. Yet eventually many negotiations reach a stage where further discussion is pointless. In a collectible gifts business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
Share this article
Additional Resources for Entrepreneurs