Sell a Business for the Best Price
Selling a Plate Glass Retail Business
Looking for shortcuts? You won't find them when you sell a plate glass retail business. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
The plate glass retail business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
If your exit strategy involves selling a plate glass retail business now, you need to apply the right combination of preparation, strategy and common sense.
Setting the Stage
A successful plate glass retail business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium plate glass retail business opportunity.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your plate glass retail business, a sale to an employee is probably not a possibility.
Post-Sale Details
The way you exit your plate glass retail business is just as important as the way you sell it. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
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