Business Exits By Industry
Selling a Ceiling Fans Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the ceiling fans business market has been exceptionally volatile. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a ceiling fans business during challenging economic times.
Business buyers face their own set of frustrations and complications. Although there are plenty of entrepreneurs who want to buy a ceiling fans business, capital restrictions are holding them back.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Dealing with Your Emotions
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. You probably have good reasons for selling your ceiling fans business now, but that doesn't make the emotions you will experience any easier. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Sweetening the Deal
Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young ceiling fans business owner, they can be critical launching points for their ownership journey.
Broker vs. No Broker
When selling a ceiling fans business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a ceiling fans business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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