Niche Exit Planning Strategies
Selling a Driveway Sealing Business
Your driveway sealing business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Market timing is a perennial problem for business sellers.
Qualified buyers are constantly looking for attractive driveway sealing 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.
Sale Documents
In a driveway sealing business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
What to Expect in a Driveway Sealing Business Sale
The sale of a driveway sealing business can be a rollercoaster of emotions. One minute you'll be elated at the possibility of moving on the next stage of your life and the next minute you'll be nostalgic about the memories of your time at the helm of your business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your driveway sealing business's inventory, equipment, and physical assets. But you'll need to commission your own appraisal before you put your driveway sealing business on the market to arm yourself with information for the negotiation phase. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. A pre-listing appraisal also gives you the opportunity to document the condition of your driveway sealing business's assets and possible even make repairs or upgrades to increase the total value of the operation.
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