How to Valuate & Sell a Retail Chain with a Business Broker
Have you thought about selling your retail business? It’s a decision many business owners think about all the time. You’ve spend countless hours building your company up over the years. Is now the time to cash in on all your hard work? Should you wait? Is your store in a good position to sell now?
Retail businesses are very common. They’re everywhere and there are countless types of retail chains. Therefore, determining if now is the best time to sell your specific type of retail chain needs to be considered on a case by case basis. For some, now is an ideal time, for others, it may be better to wait.
There is no shortage of entrepreneurs, competitors, and investors looking to purchase a retail business. Is yours the one? At Beacon, we can help you determine if now is the right time to list your business. We know your goal is to maximize your profits. Our expert team of business brokers will help you value your business, prepare it for sale, and find the right buyers so you can get top dollar for your company.
Factors To Consider When Selling Your Retail Chain
Selling a business is not an easy decision. There is a lot to think about before deciding to start the sales process. Here are some of the top factors to think about when determining if you should sell or not:
- Reasons for selling: Your reason for selling can have a large bearing on timing. Are you thinking about retirement? Do you want to sell a location or two? Need to free up some cash? Understand that your reason for selling can affect your urgency and how buyers may approach making offers.
- Ownership: Do you own the retail chain outright? Do you have business partners? What about investors? All of these factors need to be considered. Everyone needs to be on board and willing to do the work to get the most out of the sale.
- Type of store: What type of retail business do you have? What industry are you in? Do you have an online store? Do you have a physical location only?
- Industry projections: Are sales in your industry strong? Is there projected growth? Do you sense a recession is on the way?
- The number of locations: How many retail chain locations do you have? Do you want to sell all? Do you want to sell all locations as a package or sell each location separately? Do you want to hold onto a location?
Steps To Sell Your Import Business
Here are the main steps involved with getting a business valuation and selling your retail business:
- Make the decision to sell: This is a big one. Making the decision to sell can be a life-changing decision. Once you are committed, it’s time to make sure you do things the right way.
- Hire a business broker: Hiring a business broker is one of the best decisions you can make. A business broker will guide you through the sales process.
- Get a business valuation: Business brokers will assess your financial records, assets, look at market conditions, and see what other companies have sold for to determine your business value.
- Develop a sales strategy: Develop an engaging marketing and sales strategy to attract qualified buyers.
- The field offers from buyers: Take offers from buyers, qualify the offers, and determine who is serious and the best offer to pursue.
- Negotiate: Negotiate with serious buyers. Go back and forth until you can agree to terms on the sale of your retail chain.
- Due diligence: Allow the buyer to perform due diligence and ensure your business checks out.
- Close: Close the deal, transfer the funds, and transition out of the company.
There you have it. Complete the above steps and you will sell your business.
Sell Your Retail Chain With Beacon
Are you ready to finally make the move? Is it time to sell? Not sure what steps to take? We know you want to sell quickly, minimize hassle, and get top dollar. Contact our business brokers today to explore your options. Our team can answer your questions, help you better understand the process, and provide you with expert advice along the way.
When you choose Beacon, you’re in good hands. We’ve helped many small to medium-sized retain companies just like yours sell. Start with a business valuation and let us find you the type of offer you are looking for. Get in touch to start the process of selling your retain chain business.