Exit Planning Advice By Market
Selling an Artificial Flowers and Trees Manufacturers' Supplies Business
The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But artificial flowers and trees manufacturers' supplies businesses haven't heard the news and are reporting steady action on the business-for-sale market.
The buzz in the marketplace is that now isn't the right time to sell an artificial flowers and trees manufacturers' supplies business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a artificial flowers and trees manufacturers' supplies business.
Signs You're in Over Your Head
Many artificial flowers and trees manufacturers' supplies business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
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.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your artificial flowers and trees manufacturers' supplies business. The bad news is that they will lack the financial capacity to close the deal. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your artificial flowers and trees manufacturers' supplies business until the prospect has been qualified as a serious buyer.
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