Exit Planning Advice
Selling a Kitchen Cabinet Refacing and Refinishing Business
No one said selling your business in a depressed economy would be easy. But selling your kitchen cabinet refacing and refinishing business doesn't have to be as daunting as it sounds.
Today's kitchen cabinet refacing and refinishing business buyers tend to be more skeptical than most about the nation's economic outlook.
In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a kitchen cabinet refacing and refinishing business. With the right information and strategy, you could be well on your way to a successful sale
Realistic Expectations
For most owners, the hardest part of selling a kitchen cabinet refacing and refinishing business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful kitchen cabinet refacing and refinishing business sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Why Confidentiality Matters
Highly publicized kitchen cabinet refacing and refinishing business sales are risky kitchen cabinet refacing and refinishing businesssales. If you are rigorous about maintaining a confidential sale, there is little risk in putting your kitchen cabinet refacing and refinishing business on the market. When and if your sale becomes public knowledge, competitors can use that information to weaken your position in the marketplace. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.
Adjusting Expectations
If you're smart, you entered your kitchen cabinet refacing and refinishing business with a set of assumptions about what it would achieve. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your kitchen cabinet refacing and refinishing business. In the event that the sale fails to meet your expectations, you may want to consider taking the business off the market until you can grow it enough to achieve your desired sale price.
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