Advice on Niche Market Exit Planning
Selling a Tiles Contractors Business
The decision to sell your tiles contractors business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
You need to get a good price for your tiles contractors business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
More than a few tiles contractors business owners cave under the pressure and settle for a lower sales price than they should. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Selecting a Broker
Good business brokers inevitably produce better business sales. No two tiles contractors business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling tiles contractors businesses.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. Although some tiles contractors business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
Turning the Tables: Buyer Concessions
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. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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