I have started and put 3 years of my life into a festival fashion business and being a solo entrepreneur I am burned out and ready to get out of the business. It is so poised to do well, I have built a decent online following with social media, successfully launched and funded a Kickstarter campaign, have good brand recognition in my niche and have solid designs and patterns that people love and fit really well. I just don't want to run this business any more. I want to move on but don't want to completely abandon it because I know it has good traction and someone could step in and take it to a much higher level.
Where should I start to look for a buyer for something like that? I think it would be perfect for a fashion designer who wants a head start or another fashion company that wants to absorb my designs. I have no idea where to begin to find these people.
What kind of business is it? I'm a fashion designer. Send me a message and I'll see if I can help you.
I dont know a lot about fashion, but a principle in m&a is that bolt-on acquisitions are the easiest. You have a larger competitor with a built-out sales platform, be it online or via sales people. If they put one more product 'in the sales person's bag' its more marginal revenue without increasing marginal cost or changing up their method of production.
Your best bet would be find fashion designers, ideally new ones within your niche offerings. Yous should perhaps reach out to them for successful collaborations.
If you need help in finding them, I can provide you with some inputs.
Ping me privately, if interested. Thanks
I have buyers ready and looking for businesses for sale. if you would like I can discuss this with you because I do need more details. A lot depends on what you need and want and if that aligns with the market but after a short discussion I can tell you what the business is worth and some what of a time frame where I can get it sold. I have buyers waiting so if you are interested just contact me at firstname.lastname@example.org
Josephine, I am wanting to sell because I burned myself out on this industry. I have a lot of knowledge and insight as to how it could be successful but as a solo entrepreneur with no help and run out of funding it's nearly impossible for me to make it be as successful as it could be with more people and a bigger budget. I'm tired and would like to move on to bigger and better things for myself. I think I can be a better help to people who are in this position and need coaching in their businesses.
But the business is solid and I have put a lot of blood, sweat and tears into it. I would hate to see that all go to waste.
There are a lot of fashion buyers out there. Most of them are not very good, and are really fashion enthusiasts with a bit of sourcing knowledge. Make sure you really understand the job you want them to do, and what buyers and merchandisers are best at before you hire one.
I would strongly suggest NOT hiring a designer to act as a buyer or merchandiser. I have never once seen that work out well.
You can start by searching linkedin, just like most recruiting sourcers would do. You can also find local colleges with fashion merchandising programs and see if they have any grads with good experience they can point you to.
Another place to look is other companies in your space and pull talent out of them.
In a past life i had a team of about 50 buyers/merchandisers... They are all on linkedin.