The process of selling a lightning rods business can be one of the most stressful experiences of your entrepreneurial career.
(article continues below)
In order to market a lightning rods business in this environment, business sellers may need to apply a combination of incentives and techniques.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
How to Increase Sale Price
There are no simple ways to sell a lightning rods business. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. Solo sellers usually find that it's simply too much to sell their business and lead it at the same time. Subsequently, they settle for less than the business's potential sale price. So what's the lesson? In most cases, hiring a business broker is one of the best things you can do to maximize sales price.
Preparing Your Lightning Rods Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Successful lightning rods business listings are the culmination of a preparation process that began months or even years ahead of time. Even though it may take years to adequately position your lightning rods business, the amount of preparation you perform will have direct correlation on asking and sale prices. Additionally, you'll need time to compile financials and other information that buyers will expect to receive.
Given your interest in exit planning and in lightning rods businesses, you might find these additional resources to be of interest.
If starting a lightning rods business is on your agenda, these helpul resources may be just what you've been looking for:
If you consider lightning rods businesses to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, try our alphabetical directory of exit planning guides below.