Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
(article continues below)
There is no simple way to sell a business. But the most prepared gas lights business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
When to End Negotiations
The negotiation stage of a gas lights business can seem never-ending. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. It's not unusual for a gas lights business sale negotiation to reach an impasse over price or other concessions. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.
Should I Hire a Business Broker?
The decision of whether or not to hire a business broker should never be taken lightly. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your gas lights business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Preparing Family Members
Many sellers embarked on their gas lights business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a gas lights business has to include ample communication and shared decision-making.
Ready to learn more? You may find these additional resources to be of interest.
If you plan on opening a gas lights business, these guides will help you get started:
If you want information on how to sell to gas lights businesses, this isn't the best resource for you on our site. Try these useful resources instead:
If you are looking for exit plan advice for a different kind of business, please browse our alphabetical list exit planning guides below.