Niche Market Exit Planning Tips
Selling a Bathtubs and Sinks Repair and Refinishing Business
Most businesses are susceptible to economic conditions and bathtubs and sinks repair and refinishing businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your bathtubs and sinks repair and refinishing business can attract buyers who recognize its potential.
For sellers who are willing to perform adequate sale preparation, the numbers make bathtubs and sinks repair and refinishing businesses a solid investment for qualified buyers in the business-for-sale marketplace.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Sometimes, sellers need to readjust their expectations to accommodate market realties. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
When to End Negotiations
The negotiation stage of a bathtubs and sinks repair and refinishing business can seem never-ending. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. It's not unusual for a bathtubs and sinks repair and refinishing business sale negotiation to reach an impasse over price or other concessions. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their bathtubs and sinks repair and refinishing business. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a bathtubs and sinks repair and refinishing business for sale and many sellers spend a year or more positioning their business to command a higher price. In a good market, an attractive bathtubs and sinks repair and refinishing business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
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