Mastering Niche Market Exit Planning
Selling a Non-Prescription Medicines Business
Despite the pessimistic mood of many sellers, your non-prescription medicines business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
When it comes to selling a non-prescription medicines business, there are no shortcuts to success.
To sell a non-prescription medicines business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
The Best Person to Sell Your Non-Prescription Medicines Business
There are benefits and drawbacks to handling the sale of your non-prescription medicines business on your own. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful non-prescription medicines business sale.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. Although you might think you're ready to exit your business, selling and separating from a non-prescription medicines business scan stir up a range of emotions. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your non-prescription medicines business until the prospect has been qualified as a serious buyer.
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