Tips to Improve Exit Planning
Selling a Jewelry Brokers and Buyers Business
There are no guarantees when you sell a jewelry brokers and buyers business. But our tips will equip you with the information you need to increase the likelihood of a successful sales outcome.
Dire economic forecasts have forced many jewelry brokers and buyers business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Market timing is a constantly moving target. So if you're waiting for the perfect market conditions to sell your jewelry brokers and buyers business, you could be waiting a while. If your business is ready to be sold, the time to sell is now. To improve sale outcomes, you will simply need to tailor your jewelry brokers and buyers business to today's buyers.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
For most owners, the hardest part of selling a jewelry brokers and buyers business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Sometimes, sellers need to readjust their expectations to accommodate market realties. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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