Selling a Company Advice
Selling a Used Bicycle Shop
Is the economy still a little shaky for a business sale? Sure it is. Yet used bicycle shop haven't heard the news and are reporting steady action on the business-for-sale market.
An assortment of hurdles and obstacles stand between you and the successful sale of your used bicycle shop.
However, serious buyers also understand the value of a good used bicycle shop. So for used bicycle shop sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Setting the Stage
Effective used bicycle shop preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a used bicycle shop to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium used bicycle shop opportunity.
Buyer Identification
It's difficult to predict where the buyer of your used bicycle shop will come from. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
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