Niche Exit Planning Tactics
Selling a Weather Stripping Business
You've heard the naysayers - now isn't the time to sell a weather stripping business. But what they don't know is that many entrepreneurs see weather stripping businesses as a smart business investment.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
However, serious buyers also understand the value of a good weather stripping business. So for weather stripping business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
It's incumbent on buyers to commission their own appraisal of your weather stripping business's physical assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. A pre-listing appraisal also gives you the opportunity to document the condition of your weather stripping business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Signs You're in Over Your Head
Many weather stripping business are tempted to save brokerage fees by selling their businesses on their own. 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.
Hoping for a quick weather stripping business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your weather stripping business, 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.
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