September 30, 2020  
 
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Selling a Fire Resistant Doors Business

Your fire resistant doors business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.

Are most buyers timid about buying a fire resistant doors business in today's economic environment? You bet.
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Undaunted by economic conditions, many fire resistant doors business sellers are achieving their sale goals through deliberate sale strategies.

Average Timeframes

Hoping for a quick fire resistant doors business sale? You may be disappointed. 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. Before you can list your fire resistant doors business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.

Are You the Right Person to Sell Your Business?

An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the fire resistant doors business to gain an objective sense of fair market value.

Buyer Concessions

Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. 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.

More Exit Planning Articles

Given your interest in exit planning and in fire resistant doors businesses, you might find these additional resources to be of interest.

Why Hire an Exit Planning Consultant

Marketing a Fire Resistant Doors Business

Why Most Businesses Do Not Have Exit Plans


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