Business Exits By Industry
Selling a Custom Lamp Shades Business
Your custom lamp shades business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact custom lamp shades business sales nearly as much as sale strategy.
Despite the conventional wisdom, we believe current economic conditions are right for selling a custom lamp shades business. We'll tell you what you need to know to achieve a successful sale outcome
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. Most custom lamp shades business have significant tax consequences requiring the input of a qualified accountant. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Realistic Expectations
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful custom lamp shades business sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Selling a Custom Lamp Shades Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based custom lamp shades business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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