Niche Market Exit Planning Tips
Selling a Boat Windows Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet boat windows businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
You've invested too much in your boat windows business to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
Eventually, it will the time will come to exit your business. And when that day arrives, you need to know how to sell your boat windows business in a way that achieves positive outcomes for you and the business.
Broker vs. No Broker
When selling a boat windows business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your boat windows business sits on the market. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Preparing for What's Next
The decision to sell your boat windows business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a boat windows business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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