September 21, 2020  
 
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Selling an Identification Jewelry Business

Don't believe anyone who tells you it's easy to sell an identification jewelry business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.

Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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However, serious buyers also understand the value of a good identification jewelry business. So for identification jewelry business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.

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 identification jewelry 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. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.

Working with a Professional Accountant

Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.

Negotiation 101

As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in an identification jewelry 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.

More Exit Planning Articles

Given your interest in exit planning and in identification jewelry businesses, you might find these additional resources to be of interest.

Marketing an Identification Jewelry Business

How to Sell a Business

Family Business Exit Plans

Selling to Competitors


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