Niche Exit Planning Tactics
Selling a Wood Carving and Turning Business
There's a right way and a wrong way to sell a wood carving and turning business these days. With little room for error, your business sale has to feature the flawless execution of concepts that are driving today's business-for-sale marketplace.
You're optimistic about the economy and so are we. Now the challenge is to convert business buyers who may have a more skeptical outlook.
Market timing is a constantly moving target. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a wood carving and turning business sale. You just need to know your buyers and structure the deal accordingly.
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a wood carving and turning business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your wood carving and turning business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
You're ready to sell your wood carving and turning business, but is your family prepared for the transition? Whether you realize it or not, your wood carving and turning business has been an important part of your family life. 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 carving and turning business should allow opportunities for all family members to share their feelings and offer input about the sale process.
Maximizing Sales Price
A successful wood carving and turning business requires an investment of both time and money. A business broker handles much of the legwork involved in the sale. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. Time after time, sellers who hire qualified brokers are more satisfied with the sales process - and the price they receive for their wood carving and turning businesses.
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