Exit Planning Advice By Market
Selling an Advertising and Promotional Gift Business
A lot can go wrong during the sale of an advertising and promotional gift business even if the seller has previous business sales experience. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a advertising and promotional gift business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Although you will pay a fee for brokerage, it's generally worth it because the end result will be a higher sales prices and more favorable terms.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based advertising and promotional gift business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
Dealing with Your Emotions
There is no easy way to say goodbye to your business. You probably have good reasons for selling your advertising and promotional gift business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. 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.
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