Mastering Niche Market Exit Planning
Selling a Novelty Jewelry Retail Business
We hear from a lot of business owners who are timid about listing their novelty jewelry retail business. Despite the mood of the market, we think there are still opportunities to receive a good price for your novelty jewelry retail business. Here's what you need to know . . .
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Undaunted by economic conditions, many novelty jewelry retail business sellers are achieving their sale goals through deliberate sale strategies.
What to Expect in a Novelty Jewelry Retail Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your novelty jewelry retail business. Many sellers experience discouragement during a long sale process. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
In a novelty jewelry retail business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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