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How To Sell My Business

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Scott Said:

would like to sell my business. how do I come up with selling price?

We Answered:

Talk to business brokers and you will get a feel. It is very hard to transfer a business where you are providing such a personal service. Will your patients be willing to see someone else instead of you? If not, you don't have very much to sell. Good luck.

Jim Kirby, CPA/PFS, CFP, CFS

Alfredo Said:

How can i get my business to grow??? I sell avon?

We Answered:

I did Mary Kay for several years and have several friends doing similar, home based sales. There are a couple of things that pop out when it comes to getting customers.

1. The net is a great way for people to find you and contact you. For some home based sales though, it isn't always the best way to accumulate sales. Most of the companies like Avon will see online to anyone wihout needing to use a rep as a way into the system. So, what you may want to do is start a rewards program for your customers. You can make up small cards on your home printer and for each purchase of so many dollars, they get a stamp. After making a certain number of stamps, they can either get a small product for free or a discount on the next purchase (keep track of all this for tax reasons!). If they order online, they get one extra stamp each time...this will provide incentive for using your website. Also, if Avon's company site does allow customers to attribute the sale to specific reps, be sure all you customers have the needed ID # or information..include it on the back of your books.

2. Mary Kay reps are expected to be appropriately dressed and made up for any situation where they could encounter a new customer...basically any time we left the house! In was ingrained that we always carry cards, catalogs or the latest sale flyers and some small sample. My group leader told us to leave cards and give them out to everyone...waitresses, the girl at the pharmacy, the woman we spoke to inline at the grocery store. If anyone commented on our makeup, scent or skin, we would mention the product we used and offer a sample. It seems a bit pushy, but let me tell you it worked! I got more orders that way, especially for things like lotions and hair care products.

3. Find your niche. A lot of the most successful reps work with certain groups at first. If you're a stay at home Mom who knows other stay at home Mom's, do a spa day using any of the appropriate products. Be sure to have a disply set up of any products good for kids such as sun tan lotion, bug repellant, child friendly shampoos. If you work in an office, pass out brochures and include a note on the desk freshen up pack...deoderant, face powder, hand lotion,etc. Work out what would best suit your workplace, design the set and price it. I had a very unusual niche...drag queens. I lived in an area with a large gay community and these guys loved having someone come to them and teach them about skin care and makeup. I made a killing every time they ordered. The point is, use the contacts you have to build up the group you can really market yourself to. That will lead into an ever wider circle of orders.

3. Spouse shopping services are really helpful. Many spouses want to get thier sweeties some of your products but have no idea what their wives may order or how to get it. Around every female oriented holiday, send letters out to the spouses reminding them that you would be more than happy to help them put together fabulous gift baskets. Now, to do this you really need to keep track of what your regular customers order, but it can be worth it.

The big trick is exsposure. Hang catalogs on every house on your street and another two streets in your neighborhood. Switch streets every so often, but always put a catalog on the door of anyone who even contacted you. A sign on your front yard (if allowed by your HOA) and one of those lovely magnet signs for your care are inexspensive ways to let folks know you're out there. If you have kids in school, see if you can come up with a fundraiser to do with them. Set up display tables and bring along any items youhave stocked for immediate sale to any holiday bazaars, church sales or local fleamarkets. The more you do to get known, the more people you will reach. Good luck!

PS..one other thing..you may want to consider moving your page to a place like yahoo or even purchasing a site of your own someplace. It is not exspensive. The problem with myspace is twofold...one you have to register to access the pages, which many customers simply won't want to do..and the other is the reputation of the site. My bet is you are putting off a fair number of people because of it.

Bernice Said:

How can I sell my business idea to some finance or insurance company in India?

We Answered:

Check if it's patentable or not. If yes, do get to the patent pending status by submitting the application about your IDEA and disclose the same with companies you want to go with. This would be the safest route to protect your idea if they are unique and nonexistence.
I read some where that business practice can not be patented. However since you have idea that's unknown to world, check with patent attorney's so that they will guide you by which you will have much greater success with your idea.

Lillie Said:

How to sell my online business?

We Answered:

For now, there are more questions than answers. You say, "the business earned roughly $50,000". Is it revenue, operating income, or net income? Also, you say the operating costs only include hosting, which means that the new owner will either have to work in the business himself or hire someone and see their earnings reduced. Finally, what sort of growth for this business do you see in the future?

You need to prepare a comprehensive information package about your business, including detailed descriptive information and financial statements. You also need to clearly state your reasons for sale, otherwise people may think that you are selling the business because you expect it to fail soon.

The most likely buyers for your business are your competitors; they understand the industry and will probably give you the best price. There is a possibility that a large company is seeking to enter your industry, so they would jump on the opportunity to have an established operation, however small. In both cases, the buyer will probably value the acquisition based primarily on its growth potential. Your Ad Here

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Most of the companies like Avon will see online to anyone wihout needing to use a rep as a way into the system.

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