Optimizing Business Exits
Selling a Retail Tapestries Business
A good business is about more than dollars and sense. To make your retail tapestries business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
A business exit is always a trying experience. But when you need to sell your retail tapestries business in a depressed economy, the challenges can seem insurmountable.
Many business owners don't know that retail tapestries businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Capital is hard to come by these days. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy retail tapestries businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Preparing for What's Next
The decision to sell your retail tapestries business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Should I Hire a Business Broker?
When selling a retail tapestries business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your retail tapestries business much less painful. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered retail tapestries business sale.
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