Niche Exit Planning Strategies
Selling a Discount Store
Many business leaders say that now isn't the time to try to sell a discount store. At Gaebler, we think it's a great time to sell a discount store. Here's why . . ..
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Many business owners don't know that discount stores are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your discount store, your business brokers may or may not be willing to conduct negotiations for you. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Preparing Your Discount Store for Sale
Like it or not, a good business sale takes time. Attractive discount store listings are the culmination of a preparation process that began months or even years ahead of time. Everything you do to increase market share and profitability has a payoff in the final sale price of your discount store. Additionally, you'll need time to compile financials and other information that buyers will expect to receive.
When the Sale Goes Off-Course
Many discount store are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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