Smart Exit Planning Strategies for Niche Markets
Selling a Gutter and Downspout Cleaning and Repair Business
With the economy limping along, many gutter and downspout cleaning and repair business owners are hesitant to put their businesses on the market. But in reality, now may be the perfect time to sell a gutter and downspout cleaning and repair business.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact gutter and downspout cleaning and repair business sales nearly as much as sale strategy.
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 gutter and downspout cleaning and repair business can be sold at or above fair market value right now.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your gutter and downspout cleaning and repair business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. No two gutter and downspout cleaning and repair 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 gutter and downspout cleaning and repair businesses.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. In a gutter and downspout cleaning and repair business sale, knowledge is power -- the more you know about your business and prospective buyers, the easier it is to sway negotiations in your favor. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
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