Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
(article continues below)
If you're ready to move on, now is the right time to sell your carpets and rugs wholesale and manufacturers business.
Many sellers don't realize how many prospective buyers there are for their businesses. Although some carpets and rugs wholesale and manufacturers business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for carpets and rugs wholesale and manufacturers businesses than other buyers.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
Equipment and Inventory Concerns
Buyers typically perform an independent appraisal of your carpets and rugs wholesale and manufacturers business's physical assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your carpets and rugs wholesale and manufacturers business.
Given your interest in exit planning and in carpets and rugs wholesale and manufacturers businesses, you might find these additional resources to be of interest.
If starting a carpets and rugs wholesale and manufacturers business is on your agenda, these guides will help you get started:
If you want information on how to sell to carpets and rugs wholesale and manufacturers businesses, there's more applicable information for you elsewhere on our site. Try these useful resources instead:
If you are eager to get business succession tips for a different industry, please browse our list of exit planning guides below.