Niche Market Exit Planning Tips
Selling a Boots and Shoes Repair Business
Market shifts affect business values and the boots and shoes repair business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a boots and shoes repair business during challenging economic times.
You need to get a good price for your boots and shoes repair business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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You'll always have an excuse for not putting your business on the market. Selling a boots and shoes repair business isn't easy, but we believe sellers can achieve their goals in any economic environment.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. It's completely normal for boots and shoes repair business sellers to be asked pointed questions during due diligence. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. If due diligence drags on too long, your broker may need to intervene.
Working with Appraisers
An experienced appraiser is part and parcel of a successful boots and shoes repair business sale. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
Preparing for What's Next
The decision to sell your boots and shoes repair business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your boots and shoes repair business attractive to buyers.
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