Business Exit Planning
Selling a Mirrors Retail Business
Looking for shortcuts? You won't find them when you sell a mirrors retail business. In this industry, a business sale takes time, effort and dedication. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
Selling a mirrors retail business isn't as simple as listing a power tool on eBay. These days, the business-for-sale market is a hostile place for inexperienced and uninformed sellers.
They require careful planning and an intentional strategy that emphasizes your mirrors retail business's strengths and meets the needs of the marketplace. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a mirrors retail business can translate into a dead deal. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Factoring In Economic Variables
Think a mirrors retail business sale is simple? Think again. A combination of economic conditions and market sentiment can complicate your sale. If you base the decision to sell your mirrors retail business solely on the market, you may be in for a long wait. A much better approach is to focus on the factors that always attract buyers and investors. When it comes to selling a mirrors retail business, successful sales sales often boil down to the business itself - not the economy.
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