Exit Planning Tips
Selling a Home and Hobby Bookbinders Business
Many business leaders say that now isn't the time to try to sell a home and hobby bookbinders business. But in reality, now may be the perfect time to sell a home and hobby bookbinders business.
Are most buyers timid about buying a home and hobby bookbinders business in today's economic environment? You bet.
If your exit strategy involves selling a home and hobby bookbinders business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Preparing for What's Next
The decision to sell your home and hobby bookbinders business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Negotiation Teams
Even if you hire a business broker to facilitate the sale of your home and hobby bookbinders business, it's likely that you will be the front line negotiator. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Working with Appraisers
An experienced appraiser is part and parcel of a successful home and hobby bookbinders business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
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