Niche Exit Planning Tactics
Selling a Wine Accessories Business
You've learned a lot during your tenure as a wine accessories business owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.
Most entrepreneurs have the skills and stamina to endure and prosper during the sale ofa wine accessories business.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your wine accessories business.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great wine accessories business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your wine accessories business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Broker vs. No Broker
When selling a wine accessories business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a wine accessories business. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your wine accessories business on BizBuySell.com and other popular online business-for-sale listing sites.
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