Niche Market Exit Planning Tips
Selling a Bicycle Parts and Supplies Dealers Business
Don't believe anyone who tells you it's easy to sell a bicycle parts and supplies dealers business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
You won't find any magic formulas for selling a bicycle parts and supplies dealers business, especially while the market is struggling to overcome the perceptions created by a down economy.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a bicycle parts and supplies dealers business sale. You just need to know your buyers and structure the deal accordingly.
Selling a Bicycle Parts & Supplies Dealers Business to an Employee
Although it may seem easier to sell your bicycle parts and supplies dealers business to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based bicycle parts and supplies dealers business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Leveraging Industry Connections
These days, bicycle parts and supplies dealers business buyers are an extremely diverse group with backgrounds in and outside of the industry. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. Although you might think you're ready to exit your business, selling and separating from a bicycle parts and supplies dealers business scan stir up a range of emotions. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
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