Niche Market Exit Planning Tips
Selling a Baby Furniture Rental Business
You've heard the naysayers - now isn't the time to sell a baby furniture rental business. But what they don't know is that many entrepreneurs see baby furniture rental businesses as a smart business investment.
The baby furniture rental business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a baby furniture rental business sale. To improve sale outcomes, you will simply need to tailor your baby furniture rental business to today's buyers.
Selecting a Broker
First-rate business brokers deliver prospects and profits to their clients. In the baby furniture rental business industry, experience is a must-have characteristic for qualified brokerage. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
Tips for Seller Financing
Capital is hard to come by these days. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy baby furniture rental businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
For most owners, the hardest part of selling a baby furniture rental business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
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