Niche Market Exit Planning Tips
Selling a Bar Equipment, Fixtures, and Supplies Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet bar equipment, fixtures, and supplies businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
The economy isn't the only thing that is uncertain these days. So are bar equipment, fixtures, and supplies business buyers, many of whom are waiting to pull the trigger on their next acquisition.
To sell a bar equipment, fixtures, and supplies business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Tips for Seller Financing
Business buyers are in a capital crunch. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized bar equipment, fixtures, and supplies business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Preparing Your Bar Equipment, Fixtures, & Supplies Business for Sale
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Profitable bar equipment, fixtures, and supplies business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your bar equipment, fixtures, and supplies business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Maximizing Sales Price
There are no simple ways to sell a bar equipment, fixtures, and supplies business. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their bar equipment, fixtures, and supplies businesses.
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