Selling a Company Advice
Selling a Used Small Appliances Business
Maybe you're counting on your used small appliances business to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a used small appliances business.
Despite the conventional wisdom, we believe current economic conditions are right for selling a used small appliances business. Here's how to do it . . .
How Much Does It Cost to Sell a used small appliances business?
In a used small appliances business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a used small appliances business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Family Issues
Since your business was a family affair, your family members should also be involved in its sale Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. Subsequently, selling a used small appliances business should allow opportunities for all family members to share their feelings and offer input about the sale process.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a used small appliances business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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