Smart Exit Planning Strategies for Niche Markets
Selling a Glass Engraving and Etching Business
In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your glass engraving and etching business.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a glass engraving and etching business, capital restrictions are holding them back.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your glass engraving and etching business can be sold at or above fair market value right now.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. 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. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Current Market Conditions
No one plans to sell a glass engraving and etching business in a down economy. Although the economy is gaining steam, recovery is slow and entrepreneurs are holding their cards close to their vests. Despite the risks, sellers need to be cognizant of the fact that there is a large volume of glass engraving and etching 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 glass engraving and etching business as attractive as possible so to buyers right now.
Advantages of Hiring a Broker
Brokers give glass engraving and etching business sellers distinct advantages in the marketplace. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
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