Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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You'll always have an excuse for not putting your business on the market. Selling a ethnic jewelry retail business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Working with Appraisers
An experienced appraiser is part and parcel of a successful ethnic jewelry retail business sale. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the ethnic jewelry retail business is coming to an end, the time to sell is now. Opinions are mixed and some consultants are advising ethnic jewelry retail business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the ethnic jewelry retail business marketplace. The inventory of what we consider to be quality ethnic jewelry retail businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Given your interest in exit planning and in ethnic jewelry retail businesses, you might find these additional resources to be of interest.
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