Mastering Niche Market Exit Planning
Selling a Natural and Cut Stone Dealership
You've heard the naysayers - now isn't the time to sell a natural and cut stone dealership. But what they don't know is that many entrepreneurs see natural and cut stone dealerships as a smart business investment.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a natural and cut stone dealership, capital restrictions are holding them back.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your natural and cut stone dealership.
Hoping for a quick natural and cut stone dealership sale? You may be disappointed. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. Before you can list your natural and cut stone dealership, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your natural and cut stone dealership. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young natural and cut stone dealership owner, they can be critical launching points for their ownership journey.
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