Niche Exit Planning Strategies
Selling a Drapery and Curtain Trimmings and Supplies Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet drapery and curtain trimmings and supplies businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
If your exit strategy involves selling a drapery and curtain trimmings and supplies business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. Although you might think you're ready to exit your business, selling and separating from a drapery and curtain trimmings and supplies business scan stir up a range of emotions. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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