The decision to sell a plywood and veneers business is never easy. In our experience, a common owner concern is how the sale will affect customers and employees.
(article continues below)
If you're ready to move on, now is the right time to sell your plywood and veneers 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. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
Timing the Market
Now may be the best time to sell a plywood and veneers business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on plywood and veneers businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
It pays to invest in first-rate legal counsel when you sell a plywood and veneers business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Ready to learn more? You may find these additional resources to be of interest.
If starting a plywood and veneers business is on your agenda, these guides will help you get started:
If you want information on how to sell to plywood and veneers businesses, 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, please browse our directory of exit planning guides below.