Niche Market Exit Planning Tips
Selling a Beauty Salon Equipment and Supplies Service and Repair Business
There's a right way and a wrong way to sell a beauty salon equipment and supplies service and repair business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
There are still plenty of beauty salon equipment and supplies service and repair business buyers looking for opportunities that present well in the marketplace.
Timing the Market
Now may be the best time to sell a beauty salon equipment and supplies service and repair business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on beauty salon equipment and supplies service and repair businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. 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.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the beauty salon equipment and supplies service and repair 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.
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