Business Exits By Industry
Selling a Custom Kitchen Cabinets Business
Many business leaders say that now isn't the time to try to sell a custom kitchen cabinets business. At Gaebler, we think it's a great time to sell a custom kitchen cabinets business. Here's why . . ..
Most entrepreneurs have the skills and stamina to endure and prosper during the sale ofa custom kitchen cabinets business.
The business-for-sale market is extremely dynamic. That's why we think it's important for custom kitchen cabinets business owners to know that it's possible to sell a business in any economy. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Preparing Your Employees
Business sellers walk a fine line when it comes to preparing their employees for a sale. You're concerned about confidentiality, and rightfully so. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the custom kitchen cabinets business on the market. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
What About Market Conditions?
Today's custom kitchen cabinets business sellers face an intimidating economic landscape. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. But when the economy fully rebounds, a shadow inventory of custom kitchen cabinets businesses will flood the market and drive prices down even further. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your custom kitchen cabinets business as attractive as possible so to buyers right now.
Should I Hire a Business Broker?
The decision of whether or not to hire a business broker should never be taken lightly. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your custom kitchen cabinets business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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