Business Exits By Industry
Selling a Carpet and Rug Contractors Business
Many business leaders say that now isn't the time to try to sell a carpet and rug contractors business. At Gaebler, we think it's a great time to sell a carpet and rug contractors business. Here's why . . ..
Business buyers face their own set of frustrations and complications. Capital is scarce and many buyers simply can't afford the entry requirements for a carpet and rug contractors business.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a carpet and rug contractors business sale. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Family Issues
Many sellers embarked on their carpet and rug contractors business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a carpet and rug contractors business has to include ample communication and shared decision-making.
Tapping Into Business Networks
There are a lot of different places to look for carpet and rug contractors business buyers. Online business-for-sale databases like BizBuySell.com offer convenient resources for sellers interested in promoting their business to a broad prospect base. More focused prospects are typically found within industry networks. Time and time again, successful carpet and rug contractors business sales emerge from relationships within the industry. The challenge is to leverage industry connections while keeping knowledge of the sale hidden from your competitors. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.
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