Niche Exit Planning Strategies
Selling a Dog and Cat Supplies and Services Business
No one said selling your business in a depressed economy would be easy. Fortunately, a dog and cat supplies and services business sale isn't as scary as it seems.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
If your exit strategy involves selling a dog and cat supplies and services business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your dog and cat supplies and services business until the prospect has been qualified as a serious buyer.
How to Increase Sale Price
There are no simple ways to sell a dog and cat supplies and services business. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their dog and cat supplies and services businesses.
Preparing Your Dog & Cat Supplies & Services Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Attractive dog and cat supplies and services business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your dog and cat supplies and services business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
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