Exit Planning Advice By Market
Selling an Architects' Supplies Business
The sale of your architects' supplies business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling an architects' supplies business.
For sellers who are willing to perform adequate sale preparation, the numbers make architects' supplies businesses a solid investment for qualified buyers in the business-for-sale marketplace.
Signs You're in Over Your Head
Many architects' supplies 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. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. The remedy is professional brokerage or a consultation with more experienced sellers.
Understanding Market Timing
Now may be the best time to sell an architects' supplies business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on architects' supplies businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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