The Wall St. Journal shares a story that many indie stores may be able to relate to: the challenge of selling your business. The Journal shares issues that arise when ownership changes. Small, brick-and-mortar stores are more likely to face a big decline in sales than, say, a large IT company.
"The revenue drop following the sale of a business can range from an expected 20% to 30% in the case of an IT-services provider to 50% in the case of a hair salon, says Sam Curcio, a business broker with Transworld Business Advisors of New York, who arranged the deal between the Tylers and the Stecklers.
The risk is much lower in the case of a business with many employees, where the owners aren’t as visible, he says, but even so the new owner must be careful not to ruffle any feathers. “A big mistake is making drastic changes too quickly,” he says."
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selling a small business