Exit Planning Techniques By Market
Selling a Floral Wire Services Business
Despite the pessimistic mood of many sellers, your floral wire services business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
Although we're optimistic about the economy, we also recognize that it takes the right strategy to sell a floral wire services business in today's market.
They require careful planning and an intentional strategy that emphasizes your floral wire services business's strengths and meets the needs of the marketplace. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Factoring In Economic Variables
When you sell a floral wire services business, there are a number of variables you need to consider. Many would-be sellers are laser-focused on economic indicators, anxiously awaiting the perfect time to list their companies. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. In our experience, the most important factors in the sale of a floral wire services business have little to do with the economy.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your floral wire services business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions floral wire services business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
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