Niche Exit Planning Tactics
Selling a Wholesale Upholstery Business
The sale of your wholesale upholstery business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Although it takes hard work and dedication, if it's time to exit your wholesale upholstery business there is a good chance you can sell it for a good price -- even in today's market.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your wholesale upholstery business until the prospect has been qualified as a serious buyer.
Sale Preparations for Your Wholesale Upholstery Business
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Profitable wholesale upholstery 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 wholesale upholstery 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.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. Most wholesale upholstery business have significant tax consequences requiring the input of a qualified accountant. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
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