Smart Exit Planning Strategies for Niche Markets
Selling a Glass and Glazing Contractors Business
It's a misconception that no one is buying glass and glazing contractors businesses these days. Savvy entrepreneurs see glass and glazing contractors business opportunities as a path to short-term profits and long-term growth. Although final sales prices vary, the best sales combine strategy and hard work to achieve desired outcomes.
You're optimistic about the economy and so are we. Now the challenge is to convert business buyers who may have a more skeptical outlook.
Too often glass and glazing contractors business sellers sell for a price that is well below market value. That's unfortunate because all it takes to get a fair price in today's market is ample planning and an awareness of what's important to buyers.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Sellers typically overvalue their companies compared to the rest of the marketplace. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
Sweetening the Deal
Today's glass and glazing contractors business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash 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 glass and glazing contractors business owner, they can be critical launching points for their ownership journey.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokers routinely work with glass and glazing contractors business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your glass and glazing contractors business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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