Niche Exit Planning Strategies
Selling a Deck Construction and Maintenance Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet deck construction and maintenance businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a deck construction and maintenance business sale works.
Undaunted by economic conditions, many deck construction and maintenance business sellers are achieving their sale goals through deliberate sale strategies.
The pre-sale checklist for a deck construction and maintenance business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
The way you exit your deck construction and maintenance business is just as important as the way you sell it. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
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