Smart Exit Planning Strategies for Niche Markets
Selling a Grease Traps Business
The sale of a grease traps business can be a difficult and trying process. We'll tell you how to thrive in the middle of it and get top dollar for your company.
When the economy recovers, we expect to see a sudden influx of grease traps businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
If you're ready to move on, now is the right time to sell your grease traps business.
When the Sale Goes Off-Course
Many grease traps business are tempted to save brokerage fees by selling their businesses on their own. 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.
When Is the Right Time to Sell?
Most business owners know when it's time to exit their company. Some experts are telling grease traps business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the grease traps business marketplace. With fewer grease traps businesses on the market, there are ample opportunities for sellers to capture the attention of qualified buyers.
Team-Based Negotiation Strategies
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your grease traps business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
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