Niche Market Exit Planning Tips
Selling a Boy's Homes Business
Forget about what you read in the paper -- boy's homes businesses are being sold everyday and the business-for-sale market is poised for even greater growth in the months ahead.
You've invested too much in your boy's homes business to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
If you're ready to move on, now is the right time to sell your boy's homes business.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your boy's homes business until the prospect has been qualified as a serious buyer.
Realistic Expectations
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Benefits of Third-Party Assistance
There are a range of professionals available to guide you through the sale of a boy's homes business. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
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