Smart Exit Planning Strategies for Niche Markets
Selling a Gas Burners Service and Repair Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet gas burners service and repair businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Although we're optimistic about the economy, we also recognize that it takes the right strategy to sell a gas burners service and repair business in today's market.
The economy hasn't squashed the market for gas burners service and repair businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Selling a Gas Burners Service & Repair Business to an Employee
Although it may seem easier to sell your gas burners service and repair business to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based gas burners service and repair business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your gas burners service and repair business. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.
Preparing for What's Next
What will happen if your gas burners service and repair business is a success? Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your gas burners service and repair business. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
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