Smart Exit Planning Strategies for Niche Markets
Selling a Glass Rods and Tubing Business
When it's time to sell your glass rods and tubing business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your glass rods and tubing business can be sold at or above fair market value right now.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. No two glass rods and tubing business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling glass rods and tubing businesses.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. Be prepared to experience everything from elation to remorse during the sale of your business. It's important to allow yourself time to process your emotions during your exit. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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