You won't find any magic formulas for selling a flower leis business, especially while the market is struggling to overcome the perceptions created by a down economy.
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Despite the conventional wisdom, we believe current economic conditions are right for selling a flower leis business. We'll tell you what you need to know to achieve a successful sale outcome
When the Sale Goes Off-Course
It's not uncommon for the owners of small flower leis businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their flower leis businesses unassisted. 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.
Preparing for What's Next
The decision to sell your flower leis business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Selling a Flower Leis Business to an Employee
There are both benefits and drawbacks to selling a flower leis business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. Yet most employees lack the means to buy their employer's business at or near the asking price. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
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