Mastering Niche Market Exit Planning
Selling a New Home Builders Business
You've invested time, effort, and creativity into building your new home builders business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your new home builders business can attract buyers who recognize its potential.
However, serious buyers also understand the value of a good new home builders business. So for new home builders business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Buyer Concessions
Most new home builders business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Family Issues
Many sellers embarked on their new home builders business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. Subsequently, selling a new home builders business has to include ample communication and shared decision-making.
Maximizing Sales Price
There are no simple ways to sell a new home builders business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. 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 new home builders businesses.
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