You won't find any magic formulas for selling a quilting materials and supplies shop, especially while the market is struggling to overcome the perceptions created by a down economy.
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Eventually, it will the time will come to exit your business. As a consequence, you have a substantial stake in knowing how to receive maximum price for your quilting materials and supplies shop.
Preparing Family Members
Many sellers embarked on their quilting materials and supplies shop sale without adequately considering the impact it will have on their families. Whether you realize it or not, your quilting materials and supplies shop has been an important part of your family life. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. The decision to sell a quilting materials and supplies shop has to include ample communication and shared decision-making.
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.
Should I Hire a Business Broker?
When selling a quilting materials and supplies shop, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your quilting materials and supplies shop sits on the market. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your quilting materials and supplies shop on BizBuySell.com and other popular online business-for-sale listing sites.
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