Smart Exit Planning Strategies for Niche Markets
Selling a Gas Fitters Business
Is the economy still a little shaky for a business sale? Sure it is. Yet gas fitters businesses haven't heard the news and are reporting steady action on the business-for-sale market.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a gas fitters business.
Too often gas fitters business owners sell for a price that is well below market value. With the right strategy, your sale doesn't have to end that way.
Closing Strategies
Today's gas fitters business buyers expect sellers to offer concessions to persuade them to close the deal. But don't limit your view of concessions to financial incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young gas fitters business owner, they can be critical launching points for their ownership journey.
What to Expect in a Gas Fitters Business Sale
The sale of a gas fitters 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. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your gas fitters business on the market.
Brokerage Benefits
A good broker can offer several benefits to business sellers. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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