Exit Planning Techniques By Market
Selling a Furniture Pads Business
No one said selling your business in a depressed economy would be easy. But selling your furniture pads business doesn't have to be as daunting as it sounds.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Despite the conventional wisdom, we believe current economic conditions are right for selling a furniture pads business. We'll tell you what you need to know to achieve a successful sale outcome
Average Timeframes
Hoping for a quick furniture pads business sale? You may be disappointed. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. Before you can list your furniture pads business, you'll need to invest as much as a year in preparing it for prospective buyers. In a good market, an attractive furniture pads business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your furniture pads business. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the furniture pads business to gain an objective sense of fair market value.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions furniture pads business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
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