Niche Market Exit Planning Tips

Selling a Board Up Services Business

Many business leaders say that now isn't the time to try to sell a board up services business. At Gaebler, we think it's a great time to sell a board up services business. Here's why . . ..

Waiting for better economic times to sell your company? That's a common anthem in the small business community.

Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a board up services business.

Tips for Seller Financing

Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized board up services business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. As you prepare for the sale of your board up services business, expect to be asked to finance a substantial part of the sale price.

When the Sale Goes Off-Course

It's not uncommon for the owners of small board up services businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their board up services businesses unassisted. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.

Sale Preparation Timeframes

It's critical to properly plan for the sale ofa board up services business. For starters, the financials need to demonstrate a track record of profitability and growth. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Unless you have already started planning for your board up services business sale, it's going to take at least six months to prepare your business. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.

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