Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your variety store can attract buyers who recognize its potential.
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In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a variety store. We'll tell you what you need to know to achieve a successful sale outcome
What to Expect in a Variety Store Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your variety store. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
When to End Negotiations
Negotiations have a way of dragging on forever. Yet eventually many negotiations reach a stage where further discussion is pointless. In a variety store sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Signs You're in Over Your Head
The variety store-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Given your interest in exit planning and in variety stores, you might find these additional resources to be of interest.
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