Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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There are many factors involved with the decision to sell a business. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a custom printed shirts business sale. To improve sale outcomes, you will simply need to tailor your custom printed shirts business to today's buyers.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the custom printed shirts business is coming to an end, the time to sell is now. Some experts are telling custom printed shirts business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the custom printed shirts business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a custom printed shirts business that languishes on the market for months or even years. By far, seller financing is the most sought-after concession, especially in the current economic environment. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
After the Sale
The way you exit your custom printed shirts business is just as important as the way you sell it. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
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