October 15, 2019  
 
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Selling a Plaques Retail Business

When it's time to sell your plaques retail business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .

You need to get a good price for your plaques retail business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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Many business owners don't know that plaques retail businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.

Benefits of Third-Party Assistance

Rarely, if ever, do owners sell a plaques retail business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.

Emotional Considerations

It's impossible to predict the emotional highs and lows you will experience during the sale of your plaques retail business. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your plaques retail business is worth. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.

Closing Strategies

Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your plaques retail business. Concessions can consist of non-cash as well as cash incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. A limited amount of training and mentoring may seem inconsequential to you, but to a young plaques retail business owner, they can be critical launching points for their ownership journey.

More Exit Planning Articles

Given your interest in exit planning and in plaques retail businesses, you might find these additional resources to be of interest.

Marketing a Plaques Retail Business

Five Tips for Maximizing Your Business Sale Price

Pros and Cons of Using Business Brokers

Renewing Leases Prior to Selling a Business


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