Smart Exit Planning Strategies for Niche Markets
Selling a Gumming Services Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet gumming services businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Market timing is a perennial problem for business sellers.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based gumming services business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Several economic factors can affect the sale of a gumming services business. A combination of economic conditions and market sentiment can complicate your sale. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. When it comes to selling a gumming services business, successful sales sales often boil down to the business itself - not the economy.
Broker vs. No Broker
When selling a gumming services business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a gumming services business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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