Smart Exit Planning Strategies for Niche Markets
Selling a Glass Artists Business
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a glass artists business sale isn't as scary as it seems.
It's a fact: Successful business sales take time.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a glass artists business.
Leveraging Industry Connections
Today's glass artists business buyers can be found in a variety of locations. Online business-for-sale databases like BizBuySell.com offer convenient resources for sellers interested in promoting their business to a broad prospect base. 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.
Buyer Identification
It's difficult to predict where the buyer of your glass artists business will come from. Avoid pigeon-holing your search to a single buyer category. Many sellers achieve success by listing their glass artists businesses in multiple channels. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your glass artists business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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