Sell a Business Tips
Selling a Smocking Fabric and Supplies Business
A lot can go wrong during the sale of a smocking fabric and supplies business in today's economy. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a smocking fabric and supplies business, capital restrictions are holding them back.
Most smocking fabric and supplies businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Average Preparation Time
There are no effective shortcuts for selling a smocking fabric and supplies business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a smocking fabric and supplies business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
The Case for Confidentiality
Confidentiality determines risk in the business-for-sale marketplace. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. When and if your sale becomes public knowledge, competitors can use that information to weaken your position in the marketplace. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. If confidentiality is important to you (and it should be), your best bet is to consult with a professional business broker about maintaining a confidential smocking fabric and supplies business sale.
Should I Hire a Business Broker?
The decision of whether or not to hire a business broker should never be taken lightly. 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 smocking fabric and supplies business much less painful. 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 smocking fabric and supplies business on BizBuySell.com and other popular online business-for-sale listing sites.
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