Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
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Nothing lasts forever and you will ultimately be faced with the task of selling your company. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your children's shoes business.
It's impossible to predict the emotional highs and lows you will experience during the sale of your children's shoes business. Many sellers experience discouragement during a long sale process. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
Tapping Into Business Networks
Today's children's shoes business buyers can be found in a variety of locations. Online business-for-sale databases have value, although they appeal to an exceptionally wide base of prospects. For more targeted lead generation, consider tapping into your network of industry contacts. Time and time again, successful children's shoes business sales emerge from relationships within the industry. The challenge is to leverage industry connections while keeping knowledge of the sale hidden from your competitors. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
Selling a Children's Shoes Business to an Employee
Although it may seem easier to sell your children's shoes business to an employee, this approach also has some pitfalls. 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 children's shoes business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Given your interest in exit planning and in children's shoes businesses, you might find these additional resources to be of interest.
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