Niche Exit Planning Tactics
Selling a Wood and Laminates Flooring Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet wood and laminates flooring businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business buyers face their own set of frustrations and complications. There are lots of buyers who want to own a wood and laminates flooring business, but have limited capital to get their foot in the door.
If your exit strategy involves selling a wood and laminates flooring business now, business sellers may need to apply a combination of incentives and techniques.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
The Best Person to Sell Your Wood & Laminates Flooring Business
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your wood and laminates flooring business in the business-for-sale marketplace. 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 wood and laminates flooring business to gain an objective sense of fair market value.
Preparing Family Members
Many sellers embarked on their wood and laminates flooring business sale without adequately considering the impact it will have on their families. Whether you realize it or not, your wood and laminates flooring business has been an important part of your family life. The sale of the business will likely result in new family dynamics. The decision to sell a wood and laminates flooring business often begins with a family conversation and a mutual decision to move on the next stage of life.
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