Niche Exit Planning Strategies
Selling a Disappearing Beds Business
You've heard the naysayers - now isn't the time to sell a disappearing beds business. But what they don't know is that many entrepreneurs see disappearing beds businesses as a smart business investment.
In a down economy, many disappearing beds business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of disappearing beds businesses that are actually for sale.
The economy hasn't squashed the market for disappearing beds businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. Although some disappearing beds business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
How to Increase Sale Price
There are no simple ways to sell a disappearing beds business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. 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 disappearing beds businesses.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
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