Mastering Niche Market Exit Planning
Selling a Nonwoven Fabrics Retail Business
The sale of your nonwoven fabrics retail business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
You'll always have an excuse for not putting your business on the market. Any nonwoven fabrics retail business can be sold at any time -- you just need to know how to influence the right buyers.
Business buyers are in a capital crunch. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized nonwoven fabrics retail business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
How to Choose a Business Broker
A good business broker is your best bet for a fast and profitable business sale. No two nonwoven fabrics retail business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling nonwoven fabrics retail businesses.
How to Identify Prospective Buyers
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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