Smart Exit Planning Strategies for Niche Markets
Selling a Greeting Card Manufacturers Supplies Business
You've learned a lot during your tenure as a greeting card manufacturers supplies business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
You need to get a good price for your greeting card manufacturers supplies business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
To sell a greeting card manufacturers supplies business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Capital is hard to come by these days. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy greeting card manufacturers supplies businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. Subsequently, selling a greeting card manufacturers supplies business has to include ample communication and shared decision-making.
Signs You're in Over Your Head
Many greeting card manufacturers supplies business are tempted to save brokerage fees by selling their businesses on their own. 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. If that occurs, it's time to bring in the professionals to get your sale back on track.
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