Niche Exit Planning Strategies
Selling a Decorative and Building Stone Business
The decision to sell your decorative and building stone business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Are most buyers timid about buying a decorative and building stone business in today's economic environment? You bet.
In today's market, there is still plenty of room for decorative and building stone businesses that demonstrate solid earning capacity and a robust market position.
Leveraging Industry Connections
Today's decorative and building stone business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. Time and time again, successful decorative and building stone 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. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Timing the Market
Now may be the best time to sell a decorative and building stone business. With interest rates at all-time lows, it's easy to see why decorative and building stone businesses are an appealing investment opportunity for savvy investors. When the economy recovers there will be more decorative and building stone business buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based decorative and building stone business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
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