Advice on Niche Market Exit Planning
Selling a Taxidermy Equipment and Supplies Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet taxidermy equipment and supplies businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Selling a taxidermy equipment and supplies business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Success is a factor of preparation, execution and a keen eye for the market. But for business sellers, the process begins with having the right mental attitude.
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your taxidermy equipment and supplies business. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a taxidermy equipment and supplies business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Sale Preparations for Your Taxidermy Equipment & Supplies Business
The outcome of a business sale is largely determined prior to a market listing. Successful taxidermy equipment and supplies business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your taxidermy equipment and supplies business will command in the marketplace. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your taxidermy equipment and supplies business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
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