Niche Market Exit Planning Tips
Selling a Balsa Wood Business
A good business is about more than dollars and sense. To make your balsa wood business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
The economy hasn't squashed the market for balsa wood businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
How to Increase Sale Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell a balsa wood business. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their balsa wood businesses.
Family Issues
You're ready to sell your balsa wood business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. The decision to sell a balsa wood business often begins with a family conversation and a mutual decision to move on the next stage of life.
Sweetening the Deal
Today's balsa wood business buyers expect sellers to offer concessions to persuade them to close the deal. But don't limit your view of concessions to financial incentives. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young balsa wood business owner, they can be critical launching points for their ownership journey.
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