Business Exit Planning
Selling a Men's Underwear Wholesale and Manufacturers Business
Although a men's underwear wholesale and manufacturers business may not be completely recession-proof, the best companies can survive nearly any storm. All it takes is a strategy to identify solid prospects and convert them to buyers.
When it comes to selling a men's underwear wholesale and manufacturers business, there are no shortcuts to success.
If you're ready to move on, now is the right time to sell your men's underwear wholesale and manufacturers business.
Tips for Seller Financing
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
Sale Preparation Timeframes
There are no effective shortcuts for selling a men's underwear wholesale and manufacturers business. For starters, the financials need to demonstrate a track record of profitability and growth. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Unless you have already started planning for your men's underwear wholesale and manufacturers business sale, it's going to take at least six months to prepare your business. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Leveraging Industry Connections
There are a lot of different places to look for men's underwear wholesale and manufacturers business buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. More focused prospects are typically found within industry networks. 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.
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