Niche Market Exit Planning Tips
Selling a Buoys Business
Selling a buoys business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
In a down economy, many buoys business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of buoys businesses that are actually for sale.
Armed with a deliberate selling strategy, sellers of buoys businesses are finding qualified buyers, even in today's tough market.
Preparing Your Employees
Business sellers walk a fine line when it comes to preparing their employees for a sale. On the one hand, confidentiality is critical for a successful buoys business sale. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. 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 buoys 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.
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for buoys businesses than other buyers.
Signs You're in Over Your Head
Many buoys 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. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. The remedy is professional brokerage or a consultation with more experienced sellers.
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