Exit Planning Techniques By Market
Selling a Fence Materials Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet fence materials businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
If you plan on selling your fence materials business quickly, prepare to be disappointed.
If you're ready to move on, now is the right time to sell your fence materials business.
Preparing Your Fence Materials Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Attractive fence materials business sales opportunities leverage a long-term strategy to increase the value of the business to buyers. Everything you do to increase market share and profitability has a payoff in the final sale price of your fence materials business. It is especially helpful if your financial reports can demonstrate a multiyear growth trend for potential buyers.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
Working with Accountants
Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
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