Business Exit Planning
Selling a Mantels Business
Most businesses are susceptible to economic conditions and mantels businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
It's a fact: Successful business sales take time.
The economy hasn't squashed the market for mantels businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Current Market Conditions
At first glance, today's market would seem to be a hostile place for mantels business sellers. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. But when the economy fully rebounds, a shadow inventory of mantels businesses will flood the market and drive prices down even further. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a mantels business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great mantels business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the mantels business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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