Business Exit Planning
Selling a Men's Shirts Retail Business
You've learned a lot during your tenure as a men's shirts retail business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Personal and professional concerns surround the sale of a men's shirts retail business. In our experience, a common owner concern is how the sale will affect customers and employees.
If you're ready to move on, now is the right time to sell your men's shirts retail business.
Working with a Professional Accountant
Accountants come into play at several stages of the sale process. Before your men's shirts retail business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Timing the Market
Timing is everything when it comes to selling a men's shirts retail business. With interest rates at all-time lows, it's easy to see why men's shirts retail businesses are an appealing investment opportunity for savvy investors. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
Selling a Men's Shirts Retail Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your men's shirts retail business, a sale to an employee is probably not a possibility.
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