Niche Market Exit Planning Tips
Selling a Bridal Lingerie Business
The sale of a bridal lingerie business can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
In a down economy, many bridal lingerie business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of bridal lingerie businesses that are actually for sale.
There is no simple way to sell a business. But the most prepared bridal lingerie business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Working with Appraisers
An experienced appraiser is part and parcel of a successful bridal lingerie business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Hoping for a quick bridal lingerie 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. Before you can list your bridal lingerie business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a bridal lingerie business negotiation. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
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