Niche Exit Planning Tactics
Selling a Wholesaler and Manufacturer of Handbags
Most businesses are susceptible to economic conditions and wholesaler and manufacturer of handbags are no exception. But in some cases, a down economy can actually improve saleability. Now all you have to do is convince the right buyer that your business is built for long-term success.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Does that mean selling your wholesaler and manufacturer of handbags will be a piece of cake? No -- but you might be surprised to learn that the wholesaler and manufacturer of handbags that are selling these days are finding success though simple, common sense selling strategies.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
How to Work with Business Brokers
Business brokers are professional business sellers. Brokerage is particularly common in the wholesaler and manufacturer of handbags-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Share this article
Additional Resources for Entrepreneurs