Niche Exit Planning Strategies
Selling a Decorative and Specialty Concrete Business
Is the economy still a little shaky for a business sale? Sure it is. Yet decorative and specialty concrete businesses haven't heard the news and are reporting steady action on the business-for-sale market.
An assortment of hurdles and obstacles stand between you and the successful sale of your decorative and specialty concrete business.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to decorative and specialty concrete businesses that exhibit strong financials and potential for future growth.
Sale Costs
In a decorative and specialty concrete business sale, pricing is based on a number of factors, including the costs incurred during the sale. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Tips for Seller Financing
The shortage in today's marketplace isn't interested buyers -- it's capital. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized decorative and specialty concrete business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. 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.
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