Business Exits By Industry
Selling a Custom Tile Design Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet custom tile design businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Although we understand why sellers are hesitant, we're also seeing enough business sales to know that if you want to sell a custom tile design business, you can - even in today's economy. We'll tell you what you need to know to achieve a successful sale outcome
Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. Not surprisingly, seller financing is routinely requested by today's buyers. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the custom tile design business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your custom tile design business on BizBuySell.com and other online business-for-sale sites.
Maintaining Objectivity
Emotions run high during the sale of a custom tile design business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful custom tile design business sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Share this article
Additional Resources for Entrepreneurs