Exit Planning Techniques By Market
Selling a Folding Doors Business
Don't believe anyone who tells you it's easy to sell a folding doors business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Dire economic forecasts have forced many folding doors business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
If your exit strategy involves selling a folding doors business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
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.
Signs You're in Over Your Head
Many folding doors business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Factoring In Economic Variables
When you sell a folding doors business, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your folding doors business will be on the market as well as its sales price. If you base the decision to sell your folding doors business solely on the market, you may be in for a long wait. If you don't believe your folding doors business would sell for top dollar right now, what can you do to make it more attractive to the marketplace? Increase profitability? Build brand visibility?. When it comes to selling a folding doors business, successful sales sales often boil down to the business itself - not the economy.
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