Niche Exit Planning Tactics
Selling a Women's Underwear and Lingerie Retail Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet women's underwear and lingerie retail businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your women's underwear and lingerie retail business can be sold at or above fair market value right now.
Average Preparation Time
There are no effective shortcuts for selling a women's underwear and lingerie retail business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a women's underwear and lingerie retail business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Post-Sale Details
As your women's underwear and lingerie retail businesssale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. It's completely normal for women's underwear and lingerie retail business sellers to be asked pointed questions during due diligence. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
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