Sell a Business Tips
Selling a Saddlery and Harnesses Business
Forget about what you read in the paper -- saddlery and harnesses businesses are being sold everyday and the business-for-sale market is poised for even greater growth in the months ahead.
The economy isn't the only thing that is uncertain these days. So are saddlery and harnesses business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Despite the conventional wisdom, we believe current economic conditions are right for selling a saddlery and harnesses business. We'll tell you what you need to know to achieve a successful sale outcome
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions saddlery and harnesses business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
Leveraging Industry Connections
Today's saddlery and harnesses business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. More focused prospects are typically found within industry networks. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Sellers typically overvalue their companies compared to the rest of the marketplace. 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.
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