Advice on Niche Market Exit Planning
Selling a Tires Retreading and Repair Business
It's a misconception that no one is buying tires retreading and repair businesses these days. Savvy entrepreneurs see tires retreading and repair business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
In a down economy, many tires retreading and repair business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of tires retreading and repair businesses that are actually for sale.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your tires retreading and repair business can be sold at or above fair market value right now.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the tires retreading and repair business is coming to an end, the time to sell is now. Some experts are telling tires retreading and repair business sellers to put their plans on hold until the economy fully rebounds. At Gaebler, we have a much more optimistic view of your chances in the tires retreading and repair business-for-sale market. The inventory of what we consider to be quality tires retreading and repair businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. Few people know your business as well as you do. However, your close connection to your company can also be a drawback. Business owners are subjective and biased about their company's true worth. At a minimum, conduct an independent appraisal of the tires retreading and repair business to gain an objective sense of fair market value.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based tires retreading and repair business sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
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