Exit Planning Techniques By Market
Selling a Floor Sanding Business
Nervous about selling your floor sanding business? You shouldn't be. Our tips will help you get the highest price for your floor sanding business, regardless of what's happening with the economy.
In any economy, there is a right way and a wrong way to sell a business.
But at Gaebler, we see floor sanding businesses still selling at a brisk pace. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Advertising Your Sale
Successful floor sanding business sales listings are intentionally promoted to the right prospects. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing floor sanding business sales while maintaining the confidentiality that is critical to your business.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your floor sanding business. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your floor sanding business during their initial inquires. Avoid releasing details about your floor sanding business until you have established that they have the financial capacity to make a legitimate offer.
Working with Appraisers
There is no substitute for a qualified appraisal in the sale of your floor sanding business. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
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