Niche Market Exit Planning Tips
Selling a Barometer Business
You've heard the naysayers - now isn't the time to sell a barometers business. But what they don't know is that many entrepreneurs see barometers businesses as a smart business investment.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
You'll always have an excuse for not putting your business on the market. Any barometers business can be sold at any time -- you just need to know how to influence the right buyers.
Selling a Barometer Business to an Employee
Employee sales have pros and cons. There are some perks to selling the business in-house. Since the worker already knows the ins and outs of the business, due diligence should be a breeze, not to mention the fact that you won't have to wait months or years for the right buyer to emerge on the open marketplace. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based barometers business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Brokerage Benefits
There are many reasons why hiring a broker makes sense in barometers business sales. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your barometers business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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