Niche Exit Planning Strategies
Selling a Door Hanging and Installation Business
No one said selling your business in a depressed economy would be easy. But selling your door hanging and installation business doesn't have to be as daunting as it sounds.
The economy isn't the only thing that is uncertain these days. So are door hanging and installation business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Many business owners don't know that door hanging and installation businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Business Assets
It's incumbent on buyers to commission their own appraisal of your door hanging and installation business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your door hanging and installation business.
Maintaining Objectivity
Emotions run high during the sale of a door hanging and installation business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful door hanging and installation business sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Hiring an Attorney
There is no way around the requirement to hire professional legal assistance when you sell your door hanging and installation business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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