Niche Market Exit Planning Tips
Selling a Benches and Work Tables Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet benches and work tables businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
We're seeing a high volume of shadow inventory in the business-for-sale market.
Eventually, it will the time will come to exit your business. As a consequence, you have a substantial stake in knowing how to receive maximum price for your benches and work tables business.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your benches and work tables business. Many sellers experience discouragement during a long sale process. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your benches and work tables business on the market.
Leveraging Seller Concessions
It's becoming more difficult to sell a benches and work tables business without considering seller concessions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. In the benches and work tables business industry, experience is a must-have characteristic for qualified brokerage. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
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