Smart Exit Planning Strategies for Niche Markets
Selling a Gas and Electric Grills Retailer
Think gas and electric grills retailer sales have dwindled to a standstill? Think again. Here's what you need to know to get a fair price for your company.
The decision to sell a gas and electric grills retailer is never easy. In our experience, a common owner concern is how the sale will affect customers and employees.
To achieve your goals, you'll need to know the market as well as key business selling techniques. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your gas and electric grills retailer. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Professional consultations can also represent a significant expense during the course of a gas and electric grills retailer sale. If you need to compensate employees to assist with the sale, their services should also be considered.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. Although some gas and electric grills retailer sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for gas and electric grills retailers than other buyers.
Share this article
Additional Resources for Entrepreneurs