Niche Market Exit Planning Tips
Selling a Bed Springs Business
Many business leaders say that now isn't the time to try to sell a bed springs business. But in reality, now may be the perfect time to sell a bed springs business.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a bed springs business.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a bed springs business that languishes on the market for months or even years. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a bed springs business can translate into a dead deal. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
The Best Person to Sell Your Bed Springs Business
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your bed springs business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the bed springs business to gain an objective sense of fair market value.
Timing Your bed springs business Sale
If you're feeling like your tenure as the owner of the bed springs business is coming to an end, the time to sell is now. There are a lot of naysayers out there advising bed springs business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the bed springs business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Share this article
Additional Resources for Entrepreneurs