Niche Exit Planning Tactics
Selling a Wood Burning Furnaces Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your wood burning furnaces business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
The economy isn't the only thing that is uncertain these days. So are wood burning furnaces business buyers, many of whom are waiting to pull the trigger on their next acquisition.
You'll always have an excuse for not putting your business on the market. Selling a wood burning furnaces business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. 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. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokers routinely work with wood burning furnaces business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Preparing Family Members
You're ready to sell your wood burning furnaces business, but is your family prepared for the transition? 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. To keep the family intact, the sale of a wood burning furnaces business has to include ample communication and shared decision-making.
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