You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling an attic and basement finishing business.
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It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the attic and basement finishing business market and locate potential buyers ASAP.
Timing Your attic and basement finishing business Sale
When is it the right time to sell your attic and basement finishing business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling attic and basement finishing business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the attic and basement finishing business marketplace. The inventory of what we consider to be quality attic and basement finishing businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Signs You're in Over Your Head
Many attic and basement finishing business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your attic and basement finishing business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
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. The more people who know that the business is on the market, the riskier the sale becomes. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the attic and basement finishing business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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