Business Exits By Industry
Selling a Closet Design and Remodeling Business
No one said selling your business in a depressed economy would be easy. But selling your closet design and remodeling business doesn't have to be as daunting as it sounds.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a closet design and remodeling business sale works.
Most closet design and remodeling businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Maintaining Objectivity
For most owners, the hardest part of selling a closet design and remodeling business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Maximizing Sales Price
There are no simple ways to sell a closet design and remodeling business. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. Time after time, sellers who hire qualified brokers are more satisfied with the sales process - and the price they receive for their closet design and remodeling businesses.
Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your closet design and remodeling business. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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