Niche Market Exit Planning Tips
Selling a Bed Retail Business
You've learned a lot during your tenure as a bed retailer owner. The next step is to position your business for the demands of the business-for-sale marketplace.
The bed retailer-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Despite the conventional wisdom, we believe current economic conditions are right for selling a bed retailer. Here's how to do it . . .
Preparing Your Bed Retail Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Profitable bed retailer sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your bed retailer will command in the marketplace. 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.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your bed retailer until the prospect has been qualified as a serious buyer.
Selecting a Broker
Good business brokers inevitably produce better business sales. During the selection process, look for brokers with a proven track record of successful bed retailer sales. Take our word for it -- bed retailers are unique businesses and you need a broker who understands how to properly market your bed retailer to prospective buyers. 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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