You won't find any magic formulas for selling a low vision eyeglasses business, especially while the market is struggling to overcome the perceptions created by a down economy.
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Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to low vision eyeglasses businesses that exhibit strong financials and potential for future growth.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your low vision eyeglasses 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.
Advantages of Hiring a Broker
Brokers give low vision eyeglasses business sellers distinct advantages in the marketplace. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Finding Low Vision Eyeglasses Business Buyers
It's difficult to predict where the buyer of your low vision eyeglasses business will come from. Avoid pigeon-holing your search to a single buyer category. That means listing your low vision eyeglasses business in trade-specific directories as well as general business-for-sale databases. 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.
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