Despite your best intentions, great business sales don't happen overnight.
(article continues below)
If you're ready to move on, now is the right time to sell your grouting compounds business.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your grouting compounds business. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your grouting compounds business until the prospect has been qualified as a serious buyer.
Signs You're in Over Your Head
It's not uncommon for the owners of small grouting compounds businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their grouting compounds businesses unassisted. 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. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your grouting compounds business is priced out of the market. Hire a broker and conduct a professional appraisal ASAP.
Hoping for a quick grouting compounds business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a grouting compounds business for sale and many sellers spend a year or more positioning their business to command a higher price. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Given your interest in exit planning and in grouting compounds businesses, you might find these additional resources to be of interest.
If starting a grouting compounds business is on your agenda, these helpul resources may be just what you've been looking for:
If you consider grouting compounds businesses to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:
If you are eager to get business succession tips for a different industry, please browse our directory of exit planning guides below.