Niche Exit Planning Tactics
Selling a Wallpaper and Wallcovering Installation Business
Is the economy still a little shaky for a business sale? Sure it is. Yet wallpaper and wallcovering installation businesses continue to sell at a brisk pace, regardless of the economy.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
However, serious buyers also understand the value of a good wallpaper and wallcovering installation business. So for wallpaper and wallcovering installation business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Leveraging External Resources
Rarely, if ever, do owners sell a wallpaper and wallcovering installation business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your wallpaper and wallcovering installation business, you can avoid painful tax and legal complications both before and after closing.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your wallpaper and wallcovering installation business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Share this article
Additional Resources for Entrepreneurs