How to Sell a Niche Market Business
Selling an Eyeglasses, Sunglasses and Goggles Retail Business
The decision to sell your eyeglasses, sunglasses and goggles retail business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
There is no simple way to sell a business. But the most prepared eyeglasses, sunglasses and goggles retail business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. Although some eyeglasses, sunglasses and goggles retail business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for eyeglasses, sunglasses and goggles retail businesses than other buyers.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Most eyeglasses, sunglasses and goggles retail business have significant tax consequences requiring the input of a qualified accountant. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
When to End Negotiations
Negotiations have a way of dragging on forever. Yet eventually many negotiations reach a stage where further discussion is pointless. 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. 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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