Business Exit Planning
Selling a Men's Shirts Repair Business
With the economy limping along, many men's shirts repair business owners are hesitant to put their businesses on the market. But in reality, now may be the perfect time to sell a men's shirts repair business.
We're seeing a high volume of shadow inventory in the business-for-sale market.
If your exit strategy involves selling a men's shirts repair business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Family Issues
Many sellers embarked on their men's shirts repair business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. The decision to sell a men's shirts repair business has to include ample communication and shared decision-making.
Tapping Into Business Networks
There are a lot of different places to look for men's shirts repair business buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a men's shirts repair business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
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