Business Exits By Industry
Selling a Chimney Lining Materials Business
Is the economy still a little shaky for a business sale? Sure it is. Yet chimney lining materials businesses continue to sell at a brisk pace, regardless of the economy.
A business exit is always a trying experience. But when you need to sell your chimney lining materials business in a depressed economy, the challenges can seem insurmountable.
You'll always have an excuse for not putting your business on the market. Selling a chimney lining materials business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions chimney lining materials business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. It's typical for chimney lining materials business to rely on brokers to reduce market time and increase the final sales price. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Sale Preparation Timeframes
It's critical to properly plan for the sale ofa chimney lining materials business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey chimney lining materials business operation. At a minimum, plan on spending six months preparing your chimney lining materials business for the marketplace. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
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