October 29, 2020  
 
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Selling a Company

 

Selling a Custom Shoes and Boots Business

It's a misconception that no one is buying custom shoes and boots businesses these days. Savvy entrepreneurs see custom shoes and boots business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.

Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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Despite the conventional wisdom, we believe current economic conditions are right for selling a custom shoes and boots business. We'll tell you what you need to know to achieve a successful sale outcome

Workforce Concerns

Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the custom shoes and boots business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.

Economic Considerations

Think a custom shoes and boots business sale is simple? Think again. A combination of economic conditions and market sentiment can complicate your sale. If you base the decision to sell your custom shoes and boots business solely on the market, you may be in for a long wait. If you don't believe your custom shoes and boots business would sell for top dollar right now, what can you do to make it more attractive to the marketplace? Increase profitability? Build brand visibility?. When it comes to selling a custom shoes and boots business, successful sales sales often boil down to the business itself - not the economy.

Leveraging Industry Connections

These days, custom shoes and boots business buyers are an extremely diverse group with backgrounds in and outside of the industry. Online business-for-sale databases have value, although they appeal to an exceptionally wide base of prospects. But industry connections can also be a valuable source of leads. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.

More Info on Business Transitions and Related Articles

We think you may find these additional resources to be of interest.

Why Most Businesses Do Not Have Exit Plans

Marketing a Custom Shoes and Boots Business

Role of Location In Selling a Business


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Still have questions about selling a custom shoes and boots business? Ask away and we'll do our best to get you a timely reply. We also welcome any tips or advice you'd care to share with others.


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