You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a leather craft supplies business.
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At Gaebler, we think that's a mistake because with adequate preparation and the right sale strategy, this might be the best time to put your leather craft supplies business on the market.
When you sell a leather craft supplies business, there are a number of variables you need to consider. Many would-be sellers are laser-focused on economic indicators, anxiously awaiting the perfect time to list their companies. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. When it comes to selling a leather craft supplies business, successful sales sales often boil down to the business itself - not the economy.
The methods for valuing a leather craft supplies business vary according to your business model and circumstances. However, there are generally three valuation methods appraisers use to determine your company's worth. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. To drive up your sale price, position your leather craft supplies business by improving variables like assets, revenue and profitability during the years leading up to a sale.
After the Sale
As your leather craft supplies businesssale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
Given your interest in exit planning and in leather craft supplies businesses, you might find these additional resources to be of interest.
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