Business Exits By Industry

Selling a Cloth Bags Business

A lot can go wrong during the sale of a cloth bags business in today's economy. With little room for error, your business sale has to feature the flawless execution of concepts that are driving today's business-for-sale marketplace.

The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a cloth bags business, capital restrictions are holding them back.

If you're ready to move on, now is the right time to sell your cloth bags business.

Working with Accountants

Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. A professional audit can ease buyer concerns and amp up the value of your financial presentation. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.

Dealing with Buyers

Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.

Pre-Sale Checklist

There is a lot of work that needs to be done before you're ready to sell your cloth bags business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.

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