Niche Exit Planning Strategies
Selling a Dock Materials and Supplies Business
A lot can go wrong during the sale of a dock materials and supplies business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
If you're ready to move on, now is the right time to sell your dock materials and supplies business.
Current Market Conditions
No one plans to sell a dock materials and supplies business in a down economy. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. Despite the risks, sellers need to be cognizant of the fact that there is a large volume of dock materials and supplies businesses waiting to be listed until the economy rebounds. When that happens, the buyers' market will become even stronger and have a negative impact on prices. 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 dock materials and supplies business as attractive as possible so to buyers right now.
Working with Appraisers
Next to your broker, a skilled appraiser is the person most capable of adding value to the price of your dock materials and supplies business. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your dock materials and supplies business until the prospect has been qualified as a serious buyer.
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