Exit Planning Strategies
Selling a Ventilating and Exhaust Fan Business
It's a misconception that no one is buying ventilating and exhaust fan businesses these days. Savvy entrepreneurs see ventilating and exhaust fan business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
It's a fact: Successful business sales take time.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your ventilating and exhaust fan business can be sold at or above fair market value right now.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a ventilating and exhaust fan business can translate into a dead deal. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Preparing for What's Next
The decision to sell your ventilating and exhaust fan business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Selecting a Broker
A good business broker is your best bet for a fast and profitable business sale. No two ventilating and exhaust fan business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling ventilating and exhaust fan businesses.
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