Like it or not, a foam and sponge rubber retail business sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. In our experience, a common owner concern is how the sale will affect customers and employees.
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Most foam and sponge rubber retail businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
It's obvious that you're going to need to hire an attorney to finalize the sale of your foam and sponge rubber retail business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
Promoting a foam and sponge rubber retail business Sale
Successful foam and sponge rubber retail business sales begin with a carefully planned advertising and promotional strategies. But if you think advertising your foam and sponge rubber retail business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. The best way to advertise a foam and sponge rubber retail business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
Multiple valuation methods exist for a foam and sponge rubber retail business. The income method determines value based on the amount of income the business is expected to generate. The asset method, on the other hand, is based on the value of tangible and non-tangible assets (e.g. brands and trademarks). In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. All three methods have multiple variations and it's not uncommon for appraisers to use a combination of the three to determine the value of your business. But regardless of the method that is used, it's always in the seller's best interest to increase revenue and asset values prior to a sale.
Given your interest in exit planning and in foam and sponge rubber retail businesses, you might find these additional resources to be of interest.
If starting a foam and sponge rubber retail business is on your agenda, these helpul resources may be just what you've been looking for:
If you consider foam and sponge rubber retail businesses to be sales prospects, there's more applicable information for you elsewhere on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our list of exit planning guides below.