January 18, 2021  
 
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Selling a Canvas Goods and Products Business

Market perceptions play a role in your ability to sell a canvas goods and products business. Yet great values are always received well in the business-for-sale marketplace. Now all you have to do is convince the right buyer that your business is built for long-term success.

In a down economy, many canvas goods and products 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 canvas goods and products businesses that are actually for sale.
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But the good news is that there is still demand for canvas goods and products businesses that present well and offer solid earning potential.

Selling a Canvas Goods & Products Business to an Employee

Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based canvas goods and products business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.

Moving On

So you've decided to sell your canvas goods and products business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? 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 canvas goods and products business attractive to buyers.

How to Work with Business Brokers

Many sellers employ business brokers to manage the details and direction of their sale. Brokerage is particularly common in the canvas goods and products business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Why Most Businesses Do Not Have Exit Plans

Marketing a Canvas Goods and Products Business

How Much Is My Business Worth?


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