Sell a Business Tips
Selling a Stair Resurfacing Business
When it's time to sell your stair resurfacing business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
You won't find any magic formulas for selling a stair resurfacing business, especially while the market is struggling to overcome the perceptions created by a down economy.
In today's market, there is still plenty of room for stair resurfacing businesses that demonstrate solid earning capacity and a robust market position.
Buyer Concessions
Most stair resurfacing business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
How to Work with Business Brokers
Many sellers employ business brokers to manage the details and direction of their sale. Brokers routinely work with stair resurfacing business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Laying the Groundwork
Effective stair resurfacing business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a stair resurfacing business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium stair resurfacing business opportunity.
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