Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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Nothing lasts forever and you will ultimately be faced with the task of selling your company. And when that day arrives, you need to know how to sell your leather clothing cleaning and repair business in a way that achieves positive outcomes for you and the business.
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your leather clothing cleaning and repair business. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Professional consultations can also represent a significant expense during the course of a leather clothing cleaning and repair business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
What to Expect in a Leather Clothing Cleaning & Repair Business Sale
Prepare yourself to feel a broad range of emotions when you sell a leather clothing cleaning and repair business. From hopefulness to remorse, it's all part of exiting of your company. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your leather clothing cleaning and repair business is worth. Although it isn't easy, you can mitigate the emotional impact of a leather clothing cleaning and repair business sale by setting realistic expectations before you list your business.
It's difficult to predict where the buyer of your leather clothing cleaning and repair business will come from. Avoid pigeon-holing your search to a single buyer category. Many sellers achieve success by listing their leather clothing cleaning and repair businesses in multiple channels. Networking is another useful tool in locating buyers. It might surprise you to learn how many leather clothing cleaning and repair business buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
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