Niche Market Exit Planning Tips
Selling a Barricades Business
Don't believe anyone who tells you it's easy to sell a barricade business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Dire economic forecasts have forced many barricade business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
There are still plenty of barricade business buyers looking for opportunities that present well in the marketplace.
Legal Considerations
There is no way around the requirement to hire professional legal assistance when you sell your barricade business. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Preparing Your Barricades Business for Sale
Like it or not, a good business sale takes time. Profitable barricade business listings are the culmination of a preparation process that began months or even years ahead of time. Even though it may take years to adequately position your barricade business, the amount of preparation you perform will have direct correlation on asking and sale prices. It is especially helpful if your financial reports can demonstrate a multiyear growth trend for potential buyers.
Sweetening the Deal
Today's barricade business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young barricade business owner, they can be critical launching points for their ownership journey.
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