September 21, 2020  
 
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Selling a Silverware Retail Business

With the economy limping along, many silverware retail business owners are hesitant to put their businesses on the market. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your silverware retail business on the market.

You're optimistic about the economy and so are we. Now the challenge is to convert business buyers who may have a more skeptical outlook.
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Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to silverware retail businesses that exhibit strong financials and potential for future growth.

Sale Preparation Timeframes

There are no effective shortcuts for selling a silverware retail business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. At a minimum, plan on spending six months preparing your silverware retail business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.

Valuation Methods

Multiple valuation methods exist for a silverware retail business. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Using recent silverware retail business sales as its foundation, the market method factors market conditions into the valuation process. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.

How to Choose a Business Broker

Good business brokers inevitably produce better business sales. During the selection process, look for brokers with a proven track record of successful silverware retail business sales. Take our word for it -- silverware retail businesses are unique businesses and you need a broker who understands how to properly market your silverware retail business to prospective buyers. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling silverware retail businesses.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Marketing a Silverware Retail Business

Why Hire an Exit Planning Consultant

How To Choose An Investment Banker

Family Business Exit Plans


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