November 21, 2019  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Resources for Entrepreneurs

 

Selling a Company

 

Selling an Alterations and Tailoring Business

Business-for-sale markets are susceptible to a variety of influences. As you know, the alterations and tailoring business industry has seen more than its share of fluctuations in business values. Sellers have adapted their strategies to accommodate changing market realities, incorporating a handful of proven techniques for selling an alterations and tailoring business during challenging economic times.

It takes dedication to sell an alterations and tailoring business under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
(article continues below)

To sell an alterations and tailoring business now, you need to apply the right combination of preparation, strategy and common sense.

Buyer Concessions

Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.

Finding Prospects

Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.

Handling Unexpected Outcomes

When you made the decision to sell your alterations and tailoring business, you had a specific set of outcomes in mind. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your alterations and tailoring business. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.

More Info on Business Transitions and Related Articles

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

Marketing an Alterations and Tailoring Business

Role of Location In Selling a Business

How Much Is My Business Worth?

Selling Part of a Business


Conversation Board

Is there something we missed regarding how to sell an alterations and tailoring business? We're always interested in hear your feedback, tips, and questions!


Questions, Comments, Tips, and Advice  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

Hoping to Open an Alterations & Tailoring Business?

If starting an alterations and tailoring business is on your agenda, these helpul resources may be just what you've been looking for:

Starting an Alterations & Tailoring Business

Do You Market Products or Services to Alterations & Tailoring Businesses?

If you want information on how to sell to alterations and tailoring businesses, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:

Selling to Alterations and Tailoring Businesses

Mailing Lists for Alterations and Tailoring Businesses

More Business Transfer Information

If you are looking for exit plan advice for a different kind of business, please browse our alphabetical list exit planning guides below.

Browse more niche exit planning guides:

 

 

 

 

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary