Business Exit Planning
Selling a Mirror Resilvering Business
Is the economy still a little shaky for a business sale? Sure it is. Yet mirror resilvering businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact mirror resilvering business sales nearly as much as sale strategy.
If you're ready to move on, now is the right time to sell your mirror resilvering business.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. 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.
Maximizing Sales Price
There are no simple ways to sell a mirror resilvering business. If you don't know what you're doing, your business could languish on the market for months or even years. A business broker handles much of the legwork involved in the sale. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their mirror resilvering businesses.
What About Market Conditions?
No one plans to sell a mirror resilvering business in a down economy. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a mirror resilvering business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
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