Mastering Niche Market Exit Planning
Selling a News Dealers and Newsstands Business
Nervous about selling your news dealers and newsstands business? You shouldn't be. Our tips will help you get the highest price for your news dealers and newsstands business, regardless of what's happening with the economy.
It's a fact: Successful business sales take time.
For sellers who are willing to perform adequate sale preparation, the numbers make news dealers and newsstands businesses a solid investment for qualified buyers in the business-for-sale marketplace.
Preparing Your News Dealers & Newsstands Business for Sale
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Profitable news dealers and newsstands business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your news dealers and newsstands business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Leveraging External Resources
At some point, you're going to need help selling your news dealers and newsstands business. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Closing Strategies
Today's news dealers and newsstands business buyers expect sellers to offer concessions to persuade them to close the deal. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in news dealers and newsstands business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
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