Sell a Business for the Best Price
Selling a Pillow Renovating Business
Most businesses are susceptible to economic conditions and pillow renovating businesses are no exception. But in some cases, a down economy can actually improve saleability. Now all you have to do is convince the right buyer that your business is built for long-term success.
Like it or not, a pillow renovating business sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. In our experience, a common owner concern is how the sale will affect customers and employees.
In today's market, there is still plenty of room for pillow renovating businesses that demonstrate solid earning capacity and a robust market position.
Leveraging Seller Concessions
It's becoming more difficult to sell a pillow renovating business without considering seller concessions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Signs You're in Over Your Head
The pillow renovating business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Without brokerage, the risk of your sale going off-course is increased. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
Share this article
Additional Resources for Entrepreneurs