Business Exit Planning
Selling a Mosaics Business
Don't believe anyone who tells you it's easy to sell a mosaics business. A lot of things need to happen before you can successfully exit your business. We'll tell you how to thrive in the middle of it and get top dollar for your company.
A business exit is always a trying experience. But when you need to sell your mosaics business in a depressed economy, the challenges can seem insurmountable.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your mosaics business can be sold at or above fair market value right now.
Moving On
What will happen if your mosaics business is a success? If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
Buyer Identification
Buyers of mosaics businesses run the gamut. Some are seasoned mosaics business veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Signs You're in Over Your Head
The mosaics business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. 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. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Share this article
Additional Resources for Entrepreneurs