Smart Exit Planning Strategies for Niche Markets
Selling a Granite Wholesale and Manufacturers Business
Don't believe anyone who tells you it's easy to sell a granite wholesale and manufacturers business. A lot of things need to happen before you can successfully exit your business. We'll tell you how to thrive in the middle of it and get top dollar for your company.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
If your exit strategy involves selling a granite wholesale and manufacturers business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Realistic Expectations
Objectivity is a rare commodity in a business sale. You have invested yourself in making your granite wholesale and manufacturers business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. 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.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood granite wholesale and manufacturers business sellers with questions and requests, often to the point of becoming a nuisance. The questions granite wholesale and manufacturers business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Sale Costs
In a granite wholesale and manufacturers business sale, pricing is based on a number of factors, including the costs incurred during the sale. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. If you need to compensate employees to assist with the sale, their services should also be considered.
Share this article
Additional Resources for Entrepreneurs