It's a fact: Successful business sales take time.
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Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
The shortage in today's marketplace isn't interested buyers -- it's capital. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy nail salons. As a result, buyers expect sellers to finance a significant portion of the sale. As you prepare for the sale of your nail salon, expect to be asked to finance a substantial part of the sale price.
Preparing for What's Next
The decision to sell your nail salon can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Advantages of Hiring a Broker
There are many reasons why hiring a broker makes sense in nail salon sales. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Although you will pay a fee for brokerage, it's generally worth it because the end result will be a higher sales prices and more favorable terms.
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