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Selling a Corporate Advertising Specialties and Promotions Business
Planning and execution can dramatically influence the price you receive for your corporate advertising specialties and promotions business.
Although we're optimistic about the economy, we also recognize that it takes the right strategy to sell a corporate advertising specialties and promotions business in today's market.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your corporate advertising specialties and promotions business.
There is a lot of work that needs to be done before you're ready to sell your corporate advertising specialties and promotions business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your corporate advertising specialties and promotions business. Few people know your business as well as you do. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the corporate advertising specialties and promotions business to gain an objective sense of fair market value.
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