December 8, 2019 is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

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Selling a Company


Selling an African Gift Shop

A lot can go wrong during the sale of an African gift shop in today's economy. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.

Economic data is scary stuff for small business owners. But quarterly data dumps don't impact African gift shop sales nearly as much as sale strategy.
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If you're ready to move on, now is the right time to sell your African gift shop.

How to Work with Business Brokers

Business brokers are professional business sellers. It's typical for African gift shop to rely on brokers to reduce market time and increase the final sales price. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.

The Emotions of a Business Sale

Business sellers sometimes struggle to handle the emotions of a sale. Be prepared to experience everything from elation to remorse during the sale of your business. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.

Equipment and Inventory Concerns

Buyers typically perform an independent appraisal of your African gift shop's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.

More Info on Business Transitions and Related Articles

We think you may find these additional resources to be of interest.

Marketing an African Gift Shop

Pros and Cons of Using Business Brokers

Selling to Competitors

Entrepreneurial Exit Strategies

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