Business Exits By Industry
Selling a Carpet Sweepers Business
No one said selling your business in a depressed economy would be easy. Fortunately, a carpet sweepers business sale isn't as scary as it seems.
You won't find any magic formulas for selling a carpet sweepers business, especially while the market is struggling to overcome the perceptions created by a down economy.
You'll always have an excuse for not putting your business on the market. Selling a carpet sweepers business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Laying the Groundwork
A successful carpet sweepers business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Financial statements, appraisals, operations manuals and other documents lay the foundation for your carpet sweepers business sale, creating incentives for prospects to agree to a higher asking price.
Sweetening the Deal
Today's carpet sweepers business buyers expect sellers to offer concessions to persuade them to close the deal. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in carpet sweepers business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
Sale Documents
In a carpet sweepers business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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