Niche Exit Planning Tactics
Selling a Wholesale Dry Cleaners Business
Over the past few years, the wholesale dry cleaners business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a wholesale dry cleaners business during challenging economic times.
Selling a wholesale dry cleaners business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
To sell a wholesale dry cleaners business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
Factoring In Economic Variables
When you sell a wholesale dry cleaners business, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your wholesale dry cleaners business will be on the market as well as its sales price. If you base the decision to sell your wholesale dry cleaners business solely on the market, you may be in for a long wait. If you don't believe your wholesale dry cleaners business would sell for top dollar right now, what can you do to make it more attractive to the marketplace? Increase profitability? Build brand visibility?. When it comes to selling a wholesale dry cleaners business, successful sales sales often boil down to the business itself - not the economy.
Tips for Seller Financing
The shortage in today's marketplace isn't interested buyers -- it's capital. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized wholesale dry cleaners business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
After the Sale
As your wholesale dry cleaners businesssale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
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