Niche Market Exit Planning Tips
Selling a Belts and Suspenders Retail Business
You've heard the naysayers - now isn't the time to sell a belts and suspenders retail business. But what they don't know is that many entrepreneurs see belts and suspenders retail businesses as a smart business investment.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a belts and suspenders retail business.
Most belts and suspenders retail businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Hoping for a quick belts and suspenders retail business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
The Best Person to Sell Your Belts & Suspenders Retail Business
As the owner, you are both the best and worst person to sell your belts and suspenders retail business. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your belts and suspenders retail business in the business-for-sale marketplace. The problem is that your passion for your business can also sabotage your sale. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the belts and suspenders retail business to gain an objective sense of fair market value.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your belts and suspenders retail business until the prospect has been qualified as a serious buyer.
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