How much to sell business for?
I have a somewhat established hair extensions business in Melbourne, Australia and I would like to sell it as I no longer have enough time to operate it and I have a wrist injury (non hair extension related) and it is starting to get very painful doing hair extensions.
I have a facebook page set up with 150+ likers
I have 5 different suppliers with different grade of hair, all personally tested for their quality and endurance. All make atleast 1X what they are worth (profit is up to $400 per full head installed)
I am willing to teach the buyer micro bead hair extensions PROPERLY!! (No license/trade is required to operate as a hair extensionist apart from ABN etc)
So any ideas on how much to sell this package for? Thanks
- 9 years agoFavorite Answer
Try approaching other established hair extension businesses as a potential buyer,
to get an idea on the prices your type of business are going for in your city.
Make note of the points they use to justify their asking prices,
so you can get an idea on negotiating for a business like yours.
The 150+ Facebook users would not come into play with the price,
since they like you not the new owner that will take over,
of course, I'm sure they will give the new owner a chance to win their business.
The suppliers would not come into play with the price also,
due to any established business relationship, credit, or prices,
that exist is with you not with the new owner.
Both points are conveniences, but minor conveniences,
still used them of course during negotiations.
Since the business doesn't require a license, that is not helping the price also,
Your main bargaining piece is location, location, location,
unless you go to your customers homes then you don't have any bargaining tools left.
Just brush up on your negotiating skills,
it seems as though any good price,
will only come from selling "The sizzle not the steak".
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