How to Sell a Niche Market Business
Selling an Elevator Interiors Business
No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an elevator interiors business sale works.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to elevator interiors businesses that exhibit strong financials and potential for future growth.
Economic Considerations
When you sell an elevator interiors business, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your elevator interiors business will be on the market as well as its sales price. But at Gaebler, we advise our business partners to look beyond simple economic data when determining whether it's the right time to sell an elevator interiors business. Rather than watching the economy, we recommend watching buyers and tailoring your business to meet their investment expectations. When it comes to selling an elevator interiors business, successful sales sales often boil down to the business itself - not the economy.
Selling an Elevator Interiors Business to an Employee
There are both benefits and drawbacks to selling an elevator interiors business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. Seller financing is one way to get around the capital deficit of an employee-based elevator interiors business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Professional Appraisals
An experienced appraiser is part and parcel of a successful elevator interiors business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Share this article
Additional Resources for Entrepreneurs