Sell a Business Tips
Selling a Stained and Leaded Glass Business
No one said selling your business in a depressed economy would be easy. Fortunately, a stained and leaded glass business sale isn't as scary as it seems.
It's a fact: Successful business sales take time.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to stained and leaded glass businesses that exhibit strong financials and potential for future growth.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a stained and leaded glass business that languishes on the market for months or even years. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a stained and leaded glass business can translate into a dead deal. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Signs You're in Over Your Head
Many stained and leaded glass business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other stained and leaded glass businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. 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.
Preparing Family Members
Many sellers embarked on their stained and leaded glass business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a stained and leaded glass business has to include ample communication and shared decision-making.
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