In any economy, there is a right way and a wrong way to sell a business.
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It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the architecture and design book store market and locate potential buyers ASAP.
When to End Negotiations
If the devil is in the details, the negotiation stage of an architecture and design book store sale is the devil's playground. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. If you are adequately prepared, you'll know what your bottom line is -- and if the buyer is unwilling to meet your bottom line requirements or if negotiations are stalled, it's time to step back from the negotiating table and re-evaluate your options.
When Is the Right Time to Sell?
When is it the right time to sell your architecture and design book store? If you're asking the question, now may be the time to put your business on the market. There are a lot of naysayers out there advising architecture and design book store sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the architecture and design book store marketplace. The inventory of what we consider to be quality architecture and design book stores is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Maximizing Sales Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell an architecture and design book store. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. Time after time, sellers who hire qualified brokers are more satisfied with the sales process - and the price they receive for their architecture and design book stores.
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