In any economy, there is a right way and a wrong way to sell a business.
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Too often party facilities business owners fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Sale Preparations for Your Party Facilities Business
Like it or not, a good business sale takes time. Successful party facilities business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Everything you do to increase market share and profitability has a payoff in the final sale price of your party facilities business. 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.
When the Sale Goes Off-Course
Many party facilities business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. If that occurs, it's time to bring in the professionals to get your sale back on track.
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