Business Exits By Industry
Selling a Cake Decorating Services
You've learned a lot during your tenure as a cake decorating service owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Business buyers face their own set of frustrations and complications. Although there are plenty of entrepreneurs who want to buy a cake decorating service, capital restrictions are holding them back.
Qualified buyers are constantly looking for attractive cake decorating services. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your cake decorating service. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
When you sell a cake decorating service, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your cake decorating service will be on the market as well as its sales price. But at Gaebler, we advise our business partners to look beyond simple economic data when determining whether it's the right time to sell a cake decorating service. If you don't believe your cake decorating service would sell for top dollar right now, what can you do to make it more attractive to the marketplace? Increase profitability? Build brand visibility?. One thing is for sure - buyers are paying more attention to your company's profitability and growth potential than they are to the latest quarterly economic indicators.
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