Exit Planning Advice By Market
Selling an Artificial Turf Business
The decision to sell your artificial turf business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
If you plan on selling your artificial turf business quickly, prepare to be disappointed.
Artificial fields and lawns can deliver significant cost savings to facility managers and residential homeowners.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to artificial turf businesses that exhibit strong financials and potential for future growth.
Current Market Conditions
No one plans to sell an artificial turf business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell an artificial turf business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Broker vs. No Broker
When selling an artificial turf business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your artificial turf business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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