Exit Planning Techniques By Market
Selling a Floors and Flooring Wholesale and Manufacturers Business
There are no guarantees when you sell a floors and flooring wholesale and manufacturers business. But our tips will equip you with the information you need to increase the likelihood of a successful sales outcome.
These days, the prospect of selling a floors and flooring wholesale and manufacturers business is so daunting that many would-be sellers are biding their time, waiting for a break in the economic clouds.
More than a few floors and flooring wholesale and manufacturers business owners sell for a price that is well below market value. That's unfortunate because all it takes to get a fair price in today's market is ample planning and an awareness of what's important to buyers.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the floors and flooring wholesale and manufacturers business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your floors and flooring wholesale and manufacturers business on BizBuySell.com and other online business-for-sale sites.
Leveraging Seller Concessions
It's becoming more difficult to sell a floors and flooring wholesale and manufacturers business without considering seller concessions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a floors and flooring wholesale and manufacturers business can translate into a dead deal. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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