Niche Market Exit Planning Tips
Selling a Brushes and Brooms Retail Business
A good business is about more than dollars and sense. To make your brushes and brooms retail business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
You won't find any magic formulas for selling a brushes and brooms retail business, especially while the market is struggling to overcome the perceptions created by a down economy.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to brushes and brooms retail businesses that exhibit strong financials and potential for future growth.
Broker vs. No Broker
When selling a brushes and brooms retail business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a brushes and brooms retail business. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your brushes and brooms retail business on BizBuySell.com and other popular online business-for-sale listing sites.
Leveraging Seller Concessions
It's becoming more difficult to sell a brushes and brooms retail business without considering seller concessions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a brushes and brooms retail business can translate into a dead deal. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
What to Expect in a Brushes & Brooms Retail Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your brushes and brooms retail business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your brushes and brooms retail business on the market.
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