You won't find any magic formulas for selling a fragrances retail business, especially while the market is struggling to overcome the perceptions created by a down economy.
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The business-for-sale market is extremely dynamic. That's why we think it's important for fragrances retail business owners to know that it's possible to sell a business in any economy. You just need to know your buyers and structure the deal accordingly.
Selling a Fragrances Retail Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. Seller financing is one way to get around the capital deficit of an employee-based fragrances retail business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Signs You're in Over Your Head
The fragrances retail business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. But for every successful unassisted sale, several other fragrances retail businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your fragrances retail business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
When Is the Right Time to Sell?
When is it the right time to sell your fragrances retail business? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising fragrances retail business sellers to put their plans on hold until the economy fully rebounds. But despite the negativity that exists in some sectors, if you have a desire to sell your fragrances retail business now, there is a high probability that you can sell it in the current market. With fewer fragrances retail businesses on the market, there are ample opportunities for sellers to capture the attention of qualified buyers.
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