Smart Exit Planning Strategies for Niche Markets
Selling a Glass Block Windows Business
No one said selling your business in a depressed economy would be easy. Fortunately, a glass block windows business sale isn't as scary as it seems.
You need to get a good price for your glass block windows business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
The economy hasn't squashed the market for glass block windows businesses. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
During due diligence, the buyer will undoubtedly conduct his own appraisal of your glass block windows business's real assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your glass block windows business.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the glass block windows business is coming to an end, the time to sell is now. There are a lot of naysayers out there advising glass block windows business sellers (or would-be sellers) to take a wait and see approach. But despite the negativity that exists in some sectors, if you have a desire to sell your glass block windows business now, there is a high probability that you can sell it in the current market. The inventory of what we consider to be quality glass block windows businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Signs You're in Over Your Head
Many glass block windows business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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