Niche Exit Planning Tactics
Selling a Wood Finishing, Refinishing, and Repair Services Business
No one said selling your business in a depressed economy would be easy. Fortunately, a wood finishing, refinishing, and repair services business sale isn't as scary as it seems.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a wood finishing, refinishing, and repair services business.
Most wood finishing, refinishing, and repair services businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. 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.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions wood finishing, refinishing, and repair services business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. Brokers routinely work with wood finishing, refinishing, and repair services 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.
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