December 1, 2020  
 
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Selling a Business

 

Selling a Holiday Letters Business

No one said selling your business in a depressed economy would be easy. Fortunately, a holiday letters business sale isn't as scary as it seems.

Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your holiday letters business can attract buyers who recognize its potential.
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Undaunted by economic conditions, many holiday letters business sellers are achieving their sale goals through deliberate sale strategies.

Preparing Family Members

You're ready to sell your holiday letters business, but is your family prepared for the transition? In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the holiday letters business. The sale of the business will likely result in new family dynamics. Subsequently, selling a holiday letters business often begins with a family conversation and a mutual decision to move on the next stage of life.

Benefits of Third-Party Assistance

At some point, you're going to need help selling your holiday letters business. Although it's wise to recruit a business broker, brokerage isn't your only concern. We also suggest hiring an attorney, an appraiser, and an accountant early in the process. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.

Buyer Identification

It's difficult to predict where the buyer of your holiday letters business will come from. Avoid pigeon-holing your search to a single buyer category. That means listing your holiday letters business in trade-specific directories as well as general business-for-sale databases. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.

More Info on Business Transitions and Related Articles

Ready to learn more? You may find these additional resources to be of interest.

Renewing Leases Prior to Selling a Business

Marketing a Holiday Letters Business

How Much Is My Business Worth?


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Want to continue the discussion about how to sell a holiday letters business? If you have firsthand knowledge about exit planning issues and challenges, we invite you to submit your comments. Questions are also encouraged!


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