Advice on Niche Market Exit Planning
Selling a Turbines Business
Despite the pessimistic mood of many sellers, your turbines business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact turbines business sales nearly as much as sale strategy.
If you're ready to move on, now is the right time to sell your turbines business.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized turbines business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your turbines business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.
Leveraging Industry Connections
Today's turbines business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. Time and time again, successful turbines business sales emerge from relationships within the industry. The challenge is to leverage industry connections while keeping knowledge of the sale hidden from your competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
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