Smart Exit Planning Strategies for Niche Markets
Selling a Glass Replacement and Repair Business
The sale of a glass replacement and repair business can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
The economy isn't the only thing that is uncertain these days. So are glass replacement and repair business buyers, many of whom are waiting to pull the trigger on their next acquisition.
If you're looking for a reason to wait to put your business on the market, you'll find it. With hard work and dedication, your glass replacement and repair business can be sold at or above fair market value right now.
Why Confidentiality Matters
Confidentiality determines risk in the business-for-sale marketplace. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. If confidentiality is important to you (and it should be), your best bet is to consult with a professional business broker about maintaining a confidential glass replacement and repair business sale.
Legal Concerns
In a glass replacement and repair 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.
Average Timeframes
Hoping for a quick glass replacement and repair business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. On average, it takes a minimum of six months to prepare a glass replacement and repair business for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Share this article
Additional Resources for Entrepreneurs