May 31, 2020  
 
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Selling a Business

 

Selling a Boat Cushions Business

You've learned a lot during your tenure as a boat cushions business owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.

When it comes to selling a boat cushions business, there are no shortcuts to success.
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Growth-minded entrepreneurs also find an appealing boat cushions business hard to pass up. Financial statements and ROI are essential in converting modern boat cushions business prospects into buyers.

Business Assets

It's incumbent on buyers to commission their own appraisal of your boat cushions business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.

Preparing Family Members

Many sellers embarked on their boat cushions business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. The decision to sell a boat cushions business has to include ample communication and shared decision-making.

Are You the Right Person to Sell Your Business?

An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your boat cushions business in the business-for-sale marketplace. But your knowledge and personal insights about the boat cushions business are also the problem. Nearly all sellers have an inflated sense of their company's value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful boat cushions business sale.

More Exit Planning Articles

Given your interest in exit planning and in boat cushions businesses, you might find these additional resources to be of interest.

Pre-Exit Employee Incentive Programs

Marketing a Boat Cushions Business

How Much Is My Business Worth?


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