Niche Exit Planning Tactics
Selling a Wooden Buildings Business
The decision to sell your wooden buildings 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.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a wooden buildings business sale works.
In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a wooden buildings business. Here's how to do it . . .
Realistic Expectations
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful wooden buildings business sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Sweetening the Deal
Today's wooden buildings business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young wooden buildings business owner, they can be critical launching points for their ownership journey.
Benefits of Third-Party Assistance
At some point, you're going to need help selling your wooden buildings business. 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 wooden buildings business, you can avoid painful tax and legal complications both before and after closing.
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